Fortune Oil has appointed Mr. Jerry Gorman as project director for its Armenia iron ore investment with effect from 1st October 2011.

Jerry Gorman has more than 30 years of mining and metals experience with a proven track record of successfully building, operating and delivering metallurgical and mining projects in South America, Africa and Europe. Prior to his appointment, Jerry spent 9 years with ENRC (Eurasian Natural Resources Corporation) and its subsidiary companies in various roles. The latest of these was as president and chief executive officer of Bahia Mineracao (a 100% subsidiary company of ENRC) where he was responsible for managing all aspects of its iron ore deposits in Brazil.

Jerry will now be responsible and accountable for successfully developing both the Hrazdan and Abovyan mines. He will be Fortune Oil's most senior representative based in Armenia and will be the key individual liaising with all of the Group's strategic alliance partners including SRK Consulting (UK), ProMet Engineers (Australia), Sinosteel Group (China), local Government and other relevant authorities including the Chinese Embassy.

This appointment significantly strengthens the Company's operational experience as it looks to successfully deliver the iron ore project in Armenia. Jerry's experience and expertise will be beneficial to Fortune Oil in evaluating and executing future M&A opportunities in mining and metals globally.

Mr. Tee Kiam Poon, chief executive of Fortune Oil, commented: "I am delighted that Jerry will be joining us. Jerry is a highly experienced, innovative and results oriented iron ore project manager with an established track record of delivering difficult projects to tight timescales. He has broad international experience having successfully delivered various iron ore projects in numerous countries on several different continents. His expertise is ideally suited for the Company's iron ore investment in Armenia and I am certain that he will play a crucial role in successfully delivering the projects."

Tags: Fortune Oil