Arc appoints Malaihollo as MD and CEO
Tuesday, September 17 2013 - 12:50 AM WIB
Australian mineral exploration firm Arc Exploration Limited announced on Monday that it has appointed Jeffrey Malaihollo as Managing Director (MD) and CEO of Arc effective 1 October 2013. The current Managing Director, John Carlile, will retire from the position but remain as a non-executive director.
Malaihollo is aged 47 and originally from Indonesia, with a PhD in Geological Sciences from the University of London researching the tectonics of eastern Indonesia. He has been involved in the exploration and mining industry for 20 years working with both major and junior exploration companies in Indonesia, Australia and elsewhere. He was the Managing Director and a founder of AIM-ASX listed GGG Resources Plc, which in 2010 acquired a four hundred thousand ounce gold resource in Western Australia and within less than three years increased this to over three million ounces. Prior to this he was the Head of Research at a specialist mining finance house in London.
Arc Exploration Ltd is exploring for gold, silver and associated base metal deposits in both Australia and Indonesia. In Indonesia it has 95 percent stake in Trenggalek Exploration IUP tenement that covers an area of approximately 300 km2 in the Southern Mountains of East Java. In December 2012, the Group announced that Anglo American had elected to enter into an agreement to farm into the Trenggalek Project. Exploration activities at Trenggalek are currently managed by Arc but fully funded by Anglo American.
The group also has a 20 percent interest in a strategic alliance with the Anglo American Group to explore for large porphyry copper - gold deposits in the Papua and West Papua provinces. The interest is fully funded by Anglo American through to development decision. The alliance currently operates three Exploration IUP tenements held by Indonesian parties pursuant to the strategic alliance. These cover nearly 3,000 km2 at the center of the Bird's Head peninsula in West Papua Province.
Editing by Reiner Simanjuntak