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Current finance and executive director Morgan Ball will take over as md, while Young will remain on the board as a non-executive director.
“From my own perspective, the time is certainly right for me to move to a non-executive role at BC Iron, and I plan on continuing to play a supportive role in the company,” Young said in a statement.
He added that no strategy or culture change in the company is expected as a result of the transition.
Ball joined BC Iron in September 2009 as cfo and company secretary. He was appointed to the board as an executive director in December 2011.
The statement noted Ball’s replacement is being considered.
BC Iron saw a 76% year-on-year increase in its earnings for the six months ended December 31, 2012, and expects to see its production reach 4.5 million tpy by the middle of this year.
Australian iron ore junior BC Iron has announced that its managing director Mike Young will step down on May 10.