FerrAus has named former BHP Billiton executive Mike Amundsen as its new managing director and chief executive.

The East Pilbara-focused iron ore junior has been on the lookout for a new chief after the resignation of former managing director David Turvey in April. Mr Turvey remains on the board as a non-executive director.

Mr Amundsen took up his new role this week, as FerrAus took full ownership of the Silver Swan North nickel and gold joint venture after the withdrawal of BHP Billiton and Mithril Resources Ltd.

The project, near Kalgoorlie, neighbours the Black Swan nickel mine, which Russia's Norilsk Nickel mothballed in February due to the slumped nickel price.

Mr Amundsen's last role with BHP Billiton was as vice-president of business development and director of business development in the iron ore business.

"Mr Amundsen's appointment has been made at a very important and exciting period of the development of the company's Pilbara iron ore projects in Western Australia," FerrAus chairman John Nyvlt said in a statement.

Mr Amundsen will be based in Perth, with FerrAus' to relocate its headquarters from Adelaide to Perth.

FerrAus shares fell 0.5c to 50c.

RACHEL DONKIN and AAP