Bumi appoints Kenneth Farrell as Herald's chairman

Indonesia's mining giant PT Bumi Resources has appointed its director Kenneth P Farrell as the new chairman for its recently-acquired Herald Resources Limited, an Australian zinc producer. He replaced Terrence Allen.

During the company's Annual General Meeting of Members, Farrel also introduced Evan Ball and Evan Beckham which had been appointed by Bumi as non-executive directors.

During the meeting, Farrell voiced optimism that Herald would get the necessary permit from the Ministry of Forestry with Bumi now being the majority shareholder, citing Bumi's knowledge about the complex issues surrounding the issuance of permits.

Prior to the acquisition by Bumi, Herald had struggled for many years to get the permit to develop its high-grade zinc/lead mine in Dairi regency, North Sumatra despite that it partnered with state owned mining firm PT Aneka Tambang Tbk.

While Herald is pushing ahead with its efforts to obtain the permit, the firm continues making significant inroads towards production.

"These inroads into planning, procurement, design, exploration, environment, community development, etc have been made due to our ability to maintain a team of very experienced personnel who at the time the forestry approval is granted will be ready and very eager to get to site on a full time basis and push forward with the development of Dairi," Farrell said. (Bodega)