Intex Resources ASA said Dec. 27 that board member Cecilie Grue will serve as acting CEO, effective Jan. 1, 2017, as current CEO Henno Grenness' contract will expire by the end of the year.

As part of diversification activities, Intex's board will allocate more time to assist in the management of the company until a long-term strategy is implemented.

The company has covered the short-term management needs for its Mindoro nickel project in the Philippines and Bending Lake iron ore project in Ontario via internal resources and cooperation with Legacy Hill Resources, Chairman Lars Beitnes said in the statement.