Ivanhoe Australia CEO Peter Reeve resigns from post

VANCOUVER – Ivanhoe Australia has announced that its CEO has resigned.

The copper-gold miner (TSX:IVA) – which trades on the Toronto Stock Exchange and has Ivanhoe Mines (TSX:IVN) as its largest shareholder – says Peter Reeve has stepped down.

It says Ines Scotland, a non-executive director, will take on the role of managing director and CEO as the company hunts for a new chief.

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Scotland, who has been a director since June 2001, will oversee the completion of a strategic and business review announced earlier this month to clarify the company’s direction.

Chairman Peter McMahon thanked Reeve for his contribution and said the outgoing CEO played an important role in Ivanhoe Australia’s transition to a public company.

Vancouver-based Ivanhoe Mines currently has a stake of about 59 per cent in Ivanhoe Australia.

Ivanhoe Mines is itself 51 per cent owned by international mining giant Rio Tinto (NYSE:RIO).