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World Titanium Resources' New CEO Jeff Williams To Take Charge Of Toliara Mineral Sands

World Titanium Resources (ASX: WTR) has appointed its non-executive director and mineral sands veteran Jeff Williams as its chief executive officer with effect from 18 November 2013.

He served as managing director and chief executive officer of Mineral Deposits Limited (MDL) for more than 14 years and has more than 16 years of experience as a professional mining engineer.

During his time at MDL, he acquired mineral sands assets from BHP Billiton (ASX: BHP) near Hawks Nest on the New South Wales coast in 1998 and secured the Sabodala gold and Grande Cote zircon projects in Senegal.

Williams also serves as a non-executive director of MacPhersons Resources (ASX: MRP), A1 Consolidated Gold (ASX: AYC) and Callabonna Resources (ASX: CUU).

He has been a non-executive director of the company since 2012 and was in August 2013 appointed to chair a committee to implement immediate cost cuts and conduct a review to implement cost reductions throughout the company.

Williams will be responsible for bringing the company's Toliara Mineral Sands deposit in Madagascar into production.

Interim chief executive officer and executive chairman Wayne Malouf said Williams was "one of the few persons who knows what it takes to develop a world-class mineral sands project, having already done it."

Separately, Mahen Sookun has resigned from the company's board though he will continue to serve as its chief financial officer.

Toliara

The Toliara Sands Project has estimated Resources of 959 million tonnes at 6.1% total heavy minerals, which equates to a mine life of more than 100 years at the expected initial mining rate of 8Mt per annum.

WTR is discussing sales agreements with a number of potential customers for its three primary products - sulphate ilmenite, chloride ilmenite and a zircon-rich non-magnetic concentrate.

It is also exploring strategic partner options, at both the asset and the corporate level with a number of parties undertaking due diligence.

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