Australia’s Macro Metals on Wednesday announced the appointment of an experienced board with a dedicated focus of developing its Pilbara iron-ore portfolio, sending the company’s stock surging on the ASX.

Under the new structure, former Mineral Resources executive Simon Rushton is appointed MD, Evan Cranston and Tolga Kumova are nonexecutive directors, while Robert Jewson is appointed executive technical director.

Peter Huljich will remain nonexecutive chairperson, while Campbell Smyth and Ashley Pattison have retired from the board.

Incoming MD Rushton has extensive operational and corporate expertise in mining, logistics and exports, as well as in private legal practice. He is a cofounder and the inaugural MD of privately owned iron-ore junior Hedland Mining and operations director of Destec Contracting.

Prior to Hedland, Rushton founded Australian Sands International and as MD, successfully established a mine-to-Singapore supply chain in order to perform a 1.1-million-tonne concreting sand contract with Singapore’s Housing Development Board.

Macro also announced that it had acquired six additional iron-ore exploration licences across the Midwest and West and Central Pilbara to bolster its existing portfolio.

Rushton said in a statement that the company’s iron-ore portfolio had the potential for multiple sources of iron-ore production, using the well-established and proven export infrastructure of the Pilbara and Mid-West.

“As the managing director of Australian Sands International, I successfully established a greenfields concreting sand mining, processing and export business and achieved our first shipment of concreting sand from the Port of Geraldton within five months of mobilisation to site, while at Hedland Mining, I successfully managed the re-established of the Poondano iron-ore mine and achieved our first shipment of iron-ore within six months of mobilisation to site.

“At both projects, I created and safely executed the entire pit-to-port supply chain, including site establishment, mining and processing, as well as appointing our haulage contractors and securing port allocation for both export operations.

“Utilising the same fit-for-purpose, safety and results-focused, rapid-development approach across the Macro assets, I can see substantial scale and the real potential to become a multi-mine iron-ore producer,” said Rushton.

As a reflection of its commitment to delivering on its strategy, the incoming board has subscribed for A$1.22-million out of a total placement of A$1.35-million.