ChemX Materials Ltd (ASX:CMX), a materials technology company focused on providing the critical materials required for electrification and decarbonisation, has announced changes to the board and management that shall ensure the company is well positioned to move into the next phase of growth.
The company’s founder and executive director Stephen Strubel will move into the role of interim managing director, with David Leavy stepping down as managing director and from the ChemX board. Mr Leavy will remain engaged with ChemX as a strategic product consultant.
ChemX listed on the ASX in January, raising A$8m in an oversubscribed IPO. Since then, the company has progressed its projects across high purity alumina (HPA), battery grade manganese, kaolin and rare earth elements. In order to accelerate development of these critical materials projects, a change in company structure is required.
“ChemX is truly excited by its projects,” ChemX chair Kristie Young said.
“Our South Australian tenements hold manganese, kaolin and REE mineralisation in shallow, disseminated deposits. ChemX’s manganese mineralisation requires less energy intensive mining and processing methods when compared to hard-rock deposits.
“Manganese is a critical component of the global lithium-ion battery market and the company looks forward to increasing focus on progressing its battery grade manganese project in SA.
“In parallel with development of our projects in South Australia, work continues on our 100%-owned HiPurA® HPA minerals processing project. The HiPurA® HPA micro-plant is located in Perth, with the next phase of development being design and build of the 50tpa HPA pilot plant in this same facility.
“The board thanks David for setting ChemX up for success. We look forward to David continuing with the company as a strategic consultant with a focus on the product development and positioning aspects, specifically for the manganese and HPA markets.
“We are confident that Stephen will be able to move seamlessly into the acting MD role while the company commences an external search for an experienced project development CEO/managing director to progress ChemX into this next phase.
“Our intent to accelerate the ChemX projects is further demonstrated by the recent appointment of the experienced, project-focused Alwyn Vorster to the ChemX board as a non-executive director.”
Mr Leavy added:
“As ChemX enters the next stage in the development of its projects, now is the right time for the proposed management changes. ChemX is in a great position to take full advantage of the growth in the lithium battery market. I intend to remain a supportive long-term shareholder of ChemX.”
