TerraCom Ltd has appointed Mr Cameron McRae as Chairman, effective immediately.

This appointment is to facilitate the ongoing transformation of TerraCom into a global independent coal miner and Cameron will take an active and hands-on role in leading the company.

The Hon Craig Wallace will move from Acting Chairman to Deputy Chairman and will continue to support the growth and ongoing transformation of the Company led by Cameron McRae.

Cameron has served 28 yrs at Rio Tinto, holding executive level positions in five countries. He was CEO-President of Oyu Tolgoi (OT) copper-gold business in Mongolia, CEO of Richards Bay Minerals in South Africa, Managing Director of Murowa Diamonds in Zimbabwe and Project Director for the Hail Creek coal mine expansion project in Central Queensland. In 1995 he was also a key member of the M&A team that brought RTZ plc and CRA Ltd together to form the dual listed Rio Tinto.

Cameron’s career highlight to date was leading the establishment of the OT business – Mongolia’s world-class mega project in the Gobi Desert. OT commenced construction in 2010 and the US$6 billion project was commissioned ahead of schedule and moved to full production before Cameron left in October 2013.

In a media release, the board thanked Mr Wallace for his service as Acting Chairman and indicated it looked forward to his continued strong support to the company in delivering on its strategy.

Edited from press release by Harleigh Hobbs