Poli, Flannery mix it on rich list

WHILE iron ore mogul Andrew Forrest topped Business Review Weekly’s annual Executive Rich List in Australia, Aquila Resources' Tony Poli and Felix Resources' Brian Flannery were mixing it with the best of them.

Staff Reporter

James Packer has lost his crown this year to Forrest, now worth a cool $A8.4 billion thanks to the rise and rise of Fortescue Metals Group.

Forrest joins 71 mining executives on the list, up from only 39 last year.

Executives from Western Australia took out 49 of the 200 positions, beaten only by New South Wales with 67 of the richest executives.

Aquila Resources managing director – and major shareholder – Tony Poli came in at number 11 on the list, worth $601.3 million in shares.

Three executives from Felix Resources also joined the list, including Brian Flannery ($316.6 million in shares) at number 19, David Knappick ($156.4 million) and Joseph Buta ($104.3 million).

Whitehaven Coal managing director Keith Ross managed to sneak in at number 94 with $44.1 million in shares.

The highest ranking female mining executive on the list was Gillian Swaby from Paladin Energy, at number 74.

Mining services providers were also well represented on the list, with WorleyParsons managing director John Grill at number eight with a paper value of $1.1 billion, Christopher Ellison from Mineral Resources at number 22, Kevin Maloney from the MAC Services group at number 23, and Calogero Rubino from Monadelphous at 88.

Notable exits from the list included Macarthur Coal chief executive Ken Talbot, who resigned last year amidst a flurry of controversy, and departed BHP Billiton boss Chip Goodyear.