Mineral Resources Ltd (ASX:MIN) has taken a significant step in its board renewal strategy, announcing the appointment of Lawrie Tremaine and Ross Carroll as independent non-executive directors. The move enhances the company’s financial oversight and governance capabilities as it sharpens its focus on balance sheet strength and long-term value creation.
The appointments come as part of a broader renewal process led by independent chair Malcolm Bundey, who stated, “Their appointments reflect my immediate priorities as chair — to strengthen our board composition, our corporate governance and place a comprehensive focus on the balance sheet.
“I am extremely pleased to welcome Lawrie and Ross to the MinRes Board. They are both highly respected business leaders with proven track records in leadership, financial stewardship and strategic execution, and I'm confident that they will contribute significantly to our next chapter. Attracting people with such exceptional talent is testament to the strength and potential of MinRes and its people," Bundey said.
“I acknowledge that regaining trust takes time, sustained effort and delivery of performance outcomes, but I am confident our new directors will greatly assist the MinRes Board and executive in ensuring we deliver on our commitments.
“A strong, capable and independent board is key to positioning MinRes for long-term value creation for all our shareholders.”
High level experience
Both Tremaine and Carroll bring extensive financial and executive leadership experience to the board.
Tremaine, former chief financial officer (CFO) of Origin Energy and Woodside Energy, is credited with driving capital management and balance sheet strength across several major ASX-listed companies. He now takes over as chair of the Audit and Risk Committee and the Sustainability Committee.
“I am proud to join the board of a great Western Australian company with a culture of innovation, a world-class mining services business and a portfolio of high-quality assets, including the landmark Onslow Iron project," Tremaine said.
“I look forward to contributing my experience to support the MinRes Board and management as we navigate current challenges, build on existing strengths, and deliver value to shareholders, employees, and the community.”
Carroll has held CEO and CFO roles across the mining and energy sectors, including tenures at Commerce Resources, MMG Limited and Macmahon Holdings. Notably, he led MMG’s acquisition of the US$1.9 billion Khoemacau copper mine. He will chair the Ethics and Governance Committee.
"I am delighted to be joining the MinRes board. MinRes is a unique Western Australian company that has used its entrepreneurial spirit to build an impressive business encompassing mining services, iron ore, lithium and energy," Carroll said.
“I look forward to working with the Board and the entire MinRes team to improve management and governance processes and strengthen the balance sheet, with the aim of regaining market confidence and increasing shareholder value."
These changes signal MinRes’ renewed emphasis on financial rigour, accountability and board independence.