Mark Chellew, chairman of Manufacturing Australia and a board member of Cleanaway, is being tipped to emerge as the chairman of Moly-Cop.
The Australian reports that Chellow, who wouldn’t comment, would be appointed chairman if Moly-Cop was split from Arrium and floated.
Moly-Cop, a maker of mining consumables, is a global leader in its market, has estimated revenues of $160 million before tax, and is the most profitable part of Arrium.
Arrium went into administration in April, owing $4 billion.
Marketing for the float is predicted for mid-September.