STOCK EXCHANGE RELEASE

RETIREMENT OF EXECUTIVE GENERAL MANAGER MINING

Pasminco advises that Ian Williams will retire from the position of Executive General Manager Mining with effect from the close of business on Friday 3 May 2002.

Mr. Williams has made a major contribution to Pasminco through his leadership and direction of the Century Project in Queensland and more recently in his capacity as the head of all mining activities.

Pasminco has previously announced the departure of the Executive General Manager Australian Smelting and the Executive General Manager International Smelting. Subsequent to Mr. Williams’ departure it is intended to implement a single non Divisional Organisational structure within Pasminco. This will achieve significant cost reductions whilst at the same time fully recognising the integrated nature of Pasminco’s business.

Paul Fowler will be joining Pasminco with effect from Monday 13 May in the capacity of Executive Director - Commercial. His initial appointment will be on a contractual basis pending resolution as to the future of Pasminco by the Group’s creditors.

Mr. Fowler was previously Chief Executive-Forest Resources for Carter Holt Harvey and Chief Executive Officer of Fletcher Challenge Forests, both based in Auckland, New Zealand. Prior to that he had an extensive international career with BP which included commodity trading, strategic planning, finance, petroleum refining and gold mining. Mr. Fowler will have direct accountability for Metals and Concentrate Marketing and Technical Support. Additionally, he will deputise extensively for the Chief Executive Officer in supporting and coaching individual Mine and Smelter Asset Managers.

Mr. Fowler brings a wealth of operational and general management experience to Pasminco.

For further information contact:

Trevor Shard
Group Manager - Investor Relations
++61 (3) 9288 9186 or 0419 584 515

PAUL FOWLER CV
EXECUTIVE DIRECTOR - COMMERCIAL


Paul Fowler (age 54) joins Pasminco from Carter Holt Harvey Limited, where he was Chief Executive Forest Resources, responsible for ownership and management of Carter Holt Harvey forest land and trees. Prior to that he was Chief Executive Officer of Fletcher Challenge Forests, an owner and manager of plantation forests in New Zealand, which marketed logs and processed wood products into New Zealand, Australia, North and South Asia, South America and the US. Both positions were based in Auckland, New Zealand.

Before joining Fletcher Challenge Mr Fowler had 15 years of international experience with BP and Standard Oil, which encompassed petroleum refining and marketing, finance, commodity trading, strategic planning, and gold mining. Mr. Fowler holds Masters of Engineering and Business Administration from the University of Virginia (US).

Return to Home