The Australian Financial Review reported today that Mike Menzies, another former long-term MIM employee, would join Gauci as the company's managing director along with former MIM coal executive Peter Lynch.
The paper said the company was based in Brisbane and backed by Japanese copper refiner Nippon Mining and Metals, but gave no details of the company's projects or information about a possible IPO.
Gauci ended his tenure at the top of MIM earlier this year in controversial circumstances after he refused to back the board's recommendation for shareholders to accept a takeover offer from Swiss-based mining company Xstrata.
The vote went in favour of accepting the $4.9 billion offer from Xstrata and soon after the takeover Gauci began an extended golfing holiday.
