Weda Bay appoints new top executive

Canadian based nickel explorer Weda Bay Minerals Inc on Tuesday appointed John Lynch the company?s president and chief executive officer, replacing Louis Clinton, which would enter retirement.

According to the company?s statement made available to Petromindo.com, Clinton will continue with the Weda Bay in the role of non-executive Chairman.

? These Board and Executive changes will enable the company to focus its efforts to develop the extensive nickel and cobalt bearing laterites in its Contract of Work area on Halmahera Island, East Indonesia,? said the statement.

John Lynch is a founding Director of Weda Bay Minerals and was prior to his appointment was responsible for the selection and evaluation of the Weda Bay deposits as Executive Vice President -- Exploration.

Weda Bay owns 90 percent stake at PT Weda Bay Nickel, which operates the giant nickel and cobalt prospect in Halmahera, North Maluku province. Weda Bay had earlier temporarily suspended operations after OM Group, Inc., a 19.9 percent shareholder in Weda Bay Minerals refused to continue to advance funds for the project.

The remaining 10 percent stake in PT Weda Bay Nickel is held by state miner PT Aneka Tambang Tbk. (alex)