Oz Minerals names new CEO

Former Rio Tinto executive Andrew Cole has been appointed the new head of gold and copper miner Oz Minerals.

Mr Cole is due to join the company on December 3, replacing outgoing CEO Terry Burgess.

He will receive a fixed salary of $750,000 a year, which could almost triple through short term and long term incentive payments.

Mr Cole has worked for Rio Tinto for 22 years, most recently as chief operating officer of the company's iron and titanium division in Canada.

Chairman Neil Hamilton said Mr Cole's experience would be valuable to the company.

"We are delighted that Andrew is joining OZ Minerals and bringing the requisite skills and background to lead OZ Minerals though its next phase," he said.

"His mining experience covers the full mining value chain and he has a proven track record in leading and developing people."

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