King replaces Cameron McRae who will step down as executive chairman but remain on the board as a non-executive director.
TerraCom said King brought a wealth of relevant experience being a highly successful leader in mining and construction industry.
He led Leightons Holdings to become one of the world’s major contracting, services and project development organisations, and also the world’s largest contract miner, collectively employing around 45,000 people and operating in more than 30 countries.
TerraCom also said its executive director David Stone had resigned with immediate effect and Neville McAlary had been made responsible for the Blair Athol mine as Australia business unit head while Sam Bowles was responsible for the BNU mine as Mongolia business unit head.
The operational reporting structure will be streamlined with both McAlary and Bowles reporting directly to King.
