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South Boulder Mines Appoints Paul Donaldson As CEO

South Boulder Mines (ASX: STB) has appointed Paul Donaldson as chief executive officer.

Donaldson, who has been chief operating officer since November last year, has held several senior management roles with BHP Billiton (ASX: BHP) over the past 20 years, including general manager of the +50 million tonne per annum Area C Iron Ore operation in Western Australia.

He holds a Masters Degree in Business and Technology from the University of New South Wales and a Degree in Chemical Engineering from the University of Newcastle.

Terry Grammer, chairman, said Donaldson would bring the invaluable experience of having been a senior manager in the world's biggest mining company to the position of South Boulder CEO.

"Paul has extensive experience across the key management, corporate and resources spheres, making him the ideal person to lead South Boulder in its strategy to become a substantial mining company with a sharp focus on shareholder returns."

Grammer said South Boulder remained keen to conclude the ongoing negotiations with the Eritrean Government with regard to the Colluli Potash project in a manner that delivered optimum benefits for both South Boulder shareholders and the Eritrean people.

Meanwhile, managing director and chief executive officer Lorry Hughes has stepped down from his position with the company.

Hughes will support the transition of the newly appointed CEO for a period of up to six months.

Grammer thanked Hughes for his significant contribution to South Boulder's growth and development.

"Lorry played an integral role in the exploration and initial development of the Colluli Potash Project. The Board wishes him well in his future endeavours."

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