The appointments demonstrate the Board’s commitment to renewal, strengthened governance and financial oversight.
Together, Tremaine and Carroll bring a wealth of executive management, financial, strategic and capital markets expertise gained from senior leadership roles with ASX-listed companies across the resources, energy and mining services sectors.
Tremaine is a distinguished finance executive with more than 35 years’ experience in financial and commercial leadership across the mining, mineral processing, manufacturing and energy sectors in Australia and internationally.
Most recently, he was Chief Financial Officer (CFO) at Origin Energy for seven years until 2024, where he played a central role in strengthening the balance sheet and guiding capital management.
He was previously CFO at Woodside Energy for six years, where he led finance, strategy and commercial functions through major investment decisions.
Tremaine’s career also includes 17 years at Alcoa, where he established finance infrastructure across Asia Pacific. He currently serves as Chair of MoneyCatcha, a private fintech firm.
With his Board appointment, Tremaine becomes Chair of the Audit and Risk Committee, Chair of the Sustainability Committee and a member of the Ethics and Governance Committee.
Carroll has more than 25 years’ leadership experience across a range of mining, energy and mining services companies, most recently as Chief Executive Officer (CEO) of Toronto-listed junior miner Commerce Resources.
From 2015 to 2024 he was CFO at MMG Limited – a Hong Kong Stock Exchange-listed global base metals company – where he strengthened the company’s balance sheet, drove operational efficiencies and led major acquisitions including the US$1.9 billion Khoemacau copper mine in Botswana.
Prior to this, Carroll was CEO of Macmahon Holdings and guided the mining services contractor through a period of asset divestment and cost reduction.
He is also a former CFO of Woodside Energy and previously held a variety of leadership positions in finance and business development at BHP for more than 18 years.
In joining the MinRes Board, Carroll assumes the position of Chair of the Ethics and Governance Committee and becomes a member of the Audit and Risk Committee and Technical Committee.
Committee updates
MinRes has also confirmed several changes to Board committee structures.
The company’s Ethics and Governance Committee now consists of Carroll (Chair), Tremaine, Independent Non-Executive Board Chair Malcolm Bundey and Independent Non-Executive Director Justin Langer.
Non-Executive Director Xi Xi has stepped down as Chair of the Audit and Risk Committee but remains a member, with this Committee now consisting of Tremaine (Chair), Xi, Carroll and Bundey.
Non-Executive Director Colleen Hayward has stepped down from the Audit and Risk Committee, a role she has been involved in since May 2023, but continues as a member of the Remuneration and People Committee and the Sustainability Committee.
MinRes Chair Malcolm Bundey said:
“I am extremely pleased to welcome Lawrie and Ross to the MinRes Board.
"They are both highly respected business leaders with proven track records in leadership, financial stewardship and strategic execution, and I'm confident that they will contribute significantly to our next chapter.
"Attracting people with such exceptional talent is testament to the strength and potential of MinRes and its people.
“Their appointments also reflect my immediate priorities as Chair – to strengthen our Board composition, our corporate governance and place a comprehensive focus on the balance sheet. This is a major first step in our Board renewal process.
“I acknowledge that regaining trust takes time, sustained effort and delivery of performance outcomes, but I am confident our new directors will greatly assist the MinRes Board and executive in ensuring we deliver on our commitments.
“A strong, capable and independent Board is key to positioning MinRes for long-term value creation for all our shareholders.”
MinRes Non-Executive Director Lawrie Tremaine said:
“I am proud to join the board of a great Western Australian company with a culture of innovation, a world-class mining services business and a portfolio of high-quality assets, including the landmark Onslow Iron project.
“I look forward to contributing my experience to support the MinRes Board and management as we navigate current challenges, build on existing strengths and deliver value to shareholders, employees and the community.”
MinRes Non-Executive Director Ross Carroll said:
"I am delighted to be joining the MinRes board. MinRes is a unique Western Australian company that has used its entrepreneurial spirit to build an impressive business encompassing mining services, iron ore, lithium and energy.
“I look forward to working with the Board and the entire MinRes team to improve management and governance processes and strengthen the balance sheet, with the aim of regaining market confidence and increasing shareholder value."
Learn more about MinRes’ senior leadership.
