Valence Industries Limited announced that Mr. Christopher Darby has decided to resign as Managing Director and CEO of Valence Industries to accept an executive strategy and customer focussed role within the Company, effective 1 December 2015. The Company's Chief Operating Officer, Mr. Robert Mencel, will be appointed Deputy Managing Director effective 19 October 2015 and will join the Company's Board. Mr. Mencel will be appointed Managing Director effective 1 December 2015.

Most recently Mencel was the Managing Director of Ironclad Mining Limited where he obtained all outstanding Federal and State approvals for the 1.2mtpa Wilcherry Hill Iron Ore Project, including the bulk storage facility. Prior to that, as Chief Operating Officer at Ironclad, Robert led the re-design and development of the Wilcherry Hill Project.