Norfolk Metals Reshuffled Board for Chile Acquisition
The company appointed a new executive chairman and director to oversee a strategic shift into Chilean copper.
Updated on Oct. 13, 2026 in People
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Norfolk Metals has appointed Anthony McClure as executive chairman and Richard Pugh as non-executive director following the resignation of Ben Phillips. This board overhaul supports the company's move to acquire the Ciclón copper project in Chile for US$50 million.
Why it matters
The leadership changes signal a major strategic pivot for Norfolk Metals as it divests non-core assets to focus on its expansion into the Chilean copper sector. The company plans to raise up to A$120 million to fund the acquisition and a 53,000-metre drill campaign.
The Ciclón copper project contains an 11.8 million tonne JORC-compliant resource with a 2.88 percent copper equivalent grade. The company also intends to conduct a 53,000-metre drill campaign across its portfolio in Chile.
The players
Anthony McClure
He is the newly appointed executive chairman of Norfolk Metals who brings over 35 years of experience in the resources sector.
Richard Pugh
He is the new non-executive director with more than 18 years of professional experience in the mining industry.
Ben Phillips
He served as the executive chairman and a director of Norfolk Metals from July 2021 until his recent resignation.
Sleiman Majdoub
He has been appointed as the joint company secretary for Norfolk Metals during this corporate transition.
The details
The board refresh includes the appointment of Sleiman Majdoub as joint company secretary to manage the shift away from non-core assets like the Orroroo uranium project. Norfolk Metals is also exiting its Tasmanian operations after its Roger River exploration licence expired in August.
Timeline
Ben Phillips began serving as a director in July 2021.
The Roger River exploration licence expired in August 2026.
New board appointments were announced on October 13, 2026.
Market Landscape
This corporate maneuver follows the industry pattern of divesting non-core assets to focus on high-value copper deposits. It positions Norfolk Metals to compete for market share in the Domeyko Cordillera as it pivots away from uranium and domestic Tasmanian exploration.
Investors and shareholders should note that the company is undertaking a significant capital raise of up to A$120 million to fund its new strategy. This pivot to the Ciclón project indicates a long-term transition in the company's asset base and operational focus.
The takeaway
The leadership change at Norfolk Metals underscores the importance of regional expertise when transitioning into complex mining assets. Stakeholders should monitor the upcoming drill results to assess the viability of the company's significant investment in Chilean copper.
Further reading
For more on changes in corporate leadership, visit the People section.
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