Both Arvi Parbo (former Chair, now retired) and Hugh Morgan have been hailed as "Messiahs of the New Right". They are extremely well connected within corporate and political Australia, making them highly influential with state and commonwealth governments. Through WMC, they have publicly campaigned against indigenous land rights and binding Greenhouse targets.
Although WMC have not been undertaking any new uranium exploration, they have been conducting further drilling on the southern extremities of the Olympic Dam deposit, to further refine the geology and ore reserves (this area was not extensively drilled originally, nor to any significant depth). WMC have recently conducted a $1 million feasibility study of the Yeelirrie project, but the project still remains mothballed (especially after WMC revealed in July 1997 that the trial mine operating in the late 1970’s had led to extensive contamination which they had left for over ten years before cleaning it up).
Olympic Dam recently completed a major expansion, although a smelter explosion and a massive solvent fire less than nine minths apart show it was not the dream startup run WMC's PR machine promulgate. A further expansion is set to proceed if WMC get their own way and markets are kind. This would make it among one of the world's leading producers of copper and uranium.
An excellent profile of WMC is available from the Mineral Policy Institute (Sydney, NSW, 1998) -
| Directors : | Ian G R Burgess (Chair), Hugh Morgan (Chief Executive Officer), David J Brydon, Prof Adrienne E Clarke, Peter J Knight, Donald M Morley, M John Phillips, Roger A G Vines, Ian E Webber, Roy Woodall. - Sir Arvi Parbo (former Chair, now retired). |
| Contacts : | Level 16, IBM Centre, 60 City Rd, Southbank, VIC 3006 Ph (03) 9685 6000 - Fax (03) 9686 3569 |
| Website : | http://www.wmc.com.au/ |
| Banking Services : | Westpac Banking Corporation (to be verified). |
| ASX Codes : | Shares - WMC, Options - WMCO (Home Exchange - Melbourne, VIC) |
| Share Registry : | Corporate Registry Services Pty Ltd Level 12, 565 Bourke St, Melbourne, VIC 3000 |
| ACN : | 004-820-419 |
| Annual Reports : | |
| Other Websites : | |
| Other Websites : |
| Company or Entity | ||||
|---|---|---|---|---|
| Chase Manhattan Nominees Ltd | ||||
| National Nominees Ltd | ||||
| Westpac Custodian Nominees Ltd | ||||
| ANZ Nominees Ltd | ||||
| BT Custodial Services Pty Ltd | ||||
| Citicorp Nominees Pty Ltd | ||||
| MLC Ltd | ||||
| Permanent Trustee Australia Ltd | ||||
| Queensland Investment Corporation | ||||
| AMP Life Ltd | ||||
| Perpetual Trustees Nominees Ltd | ||||
| AMP Nominees Ltd | ||||
| HSBC Custody Nominees (Australia) Ltd | ||||
| Commonwealth Custodial Services Ltd | ||||
| National Mutual Life Association of Australasia Ltd | ||||
| Mercantile Mutual Life Insurance Company Ltd | ||||
| National Australia Trustees Ltd | ||||
| Commonwealth Life Ltd | ||||
| Sega Schweizerische Effekten - Giro AG/C | ||||
| Victorian Superannuation Board | ||||
Director's Interests
- Ian G R Burgess (Chair) - Non-Executive Director since 1993. Chair CSR Ltd. Former Chair of AMP Ltd. Trustee of Walter & Eliza Hall Trust.
- Hugh M Morgan (CEO) - Director since 1976, Chief Executive Officer since December 1990. Appointed to the board of Alcoa Inc. in May 1998. Member of the Board of the Reserve Bank of Australia. Member and Past President of the Minerals Council of Australia. Member of the Business Council of Australia. President of the Australia Japan Business Co-operation Committee. Chair of the International Council on Metals and the Environment.
- David J Brydon - Non-Executive Director since 1987. Director of Pasminco Ltd. Chair WMC Superannuation Fund Pty Ltd.
- Prof Adrienne E Clarke - Non-Executive Director since July 1996. Director of Woolworths Ltd, Amrad Corporation Ltd, AMP Ltd and Hexima Ltd. Chair of CSIRO from 1991 to 1996. President of the International Society for Plant Molecular Biology. Member of US National Academy of Sciences.
- Peter J Knight - Non-Executive Director since August 1997. Chair of Central Norseman Gold Corporation Ltd. Non-Executive and Former Managing Director of Clough Ltd.
- Donald M Morley - Joined WMC in 1970. Director since 1983. Director of Finance for WMC Ltd. President of the Australasian Institute of Mining and Metallurgy (AusIMM). Director of The Centre for Independent Studies.
- M John Phillips - Non-Executive Director since July 1996. Former Deputy Governor and Deputy Chair of the Reserve Bank of Australia. Chair of IBJ Australia Bank Ltd, Foreign Investment Review Board, The Australian Gas Light Company. Director of QBE Insurance Group Ltd and Woolworths Ltd. Honorary Treasurer of Caritas Australia.
- Roger A G Vines - Non-Executive Director since February 1999. Director of Woodside Petroleum Ltd and Central Norseman Gold Corporation Ltd. Former Chair and Managing Director of Alcoa of Australia Ltd.
- Ian Webber - Non-Executive Director since June 1997. Director of Santos Ltd and Pacific Dunlop Ltd. Chair of the Advisory Board of ASEA Brown Boveri Pty Ltd. Member of General Motors Australian Advisory Council. Former Chair Mayne Nickless Ltd.
- Roy Woodall - Joined WMC in 1953. Non-Executive Director since November 1995. Former Director of Exploratiohn Division (WMC) from 1978 to 1995. Chief Geologist from 1967 and Exploration Manager in 1968. Councillor of the Australian Academy of Technological Sciences and Engineering, Australain Mineral Foundation, South Australian National Parks and Wildlife Council. Recipient of several national and international scientific and professional societies medals and honours.
References - WMC Ltd Annual Reports for 1997, 1998 & 1999 plus Mudd (1998).
Share price graph courtesy of WMC website.
Last updated April 7, 2000.
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