An aircraft carrying the board of directors and senior executives from Perth, Australia-based iron ore mining company Sundance Resources crashed in the jungles of the West African nation of Congo Saturday, killing all nine passengers and two pilots. The plane wreckage was discovered Monday night.
Among the dead were billionaire Ken Talbot, whose investment company Talbot Group owns 18 percent of Sundance; ex-BHP Billiton iron ore head Geoff Wedlock, chairman of Sundance; managing director and CEO Don Lewis; company secretary John Carr-Gregg; and non-executive directors John Jones and Craig Oliver. They were on their way to visit one of the company's iron ore mines in Congo.
Sundance's Chief Financial Officer Peter Canterbury has been appointed the acting chief executive, and former Chairman Geoff Jones has resumed his duties and will be responsible for rebuilding the board of directors. Additionally, Sundance Resources asked the Australian Stock Exchange to suspend its shares Monday, while investment bank Renaissance Capital downgraded the company from buy to hold.