Base Resources (ASX: BSE) is focused on the Kwale Mineral Sands Project in Kenya, with the company adding further experience to its board.
Base has now appointed Malcolm Macpherson to the board, with Macpherson bringing significant additional mineral sands, African and corporate development experience to the company.
Macpherson spent 25 years at the world’s largest mineral sands company, Iluka Resources (ASX: ILU), starting in 1978, and has also been the Senior Vice President of the Minerals Council of Australia, President of the Western Australian Chamber of Minerals & Energy, and a member of Senate at Murdoch University.
Macpherson has had active roles in research and innovation, including an advisory role to CSIRO.
Kwale is fully funded
Kwale is fully funded and with construction nearing completion, with the project on schedule to commence production and shipment of a high-value assemblage of rutile, ilmenite and zircon minerals in the latter half of 2013.
The total approved project development budget is US$298 million, including contingencies. To 31 March, US$192 million has been incurred and a further US$87 million has been committed (ordered).
Kwale is expected to generate a cash surplus of more than US$1 billion over its 13‐year mine life.
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