Australia’s next pure rare earths producer Hastings Technology Metals Limited (ASX: HAS) has appointed Mr Matthew Allen as chief financial officer, with effect from 1 February 2021. Mr Allen will be based in Hastings’ head office in Perth, Western Australia.
The appointment of Mr Allen, a chartered accountant and finance professional with more than 25 years’ experience in the resources sector, marks an expansion of Hastings’ Perth based senior leadership team as the Company finalises offtake, financing and approvals processes for the world-class Yangibana Rare Earths Project in Western Australia’s Gascoyne region. Hastings is targeting a start of construction in 2021 and first production of mixed rare earths carbonate from 2023.
Mr Allen was most recently Managing Director and before that Chief Financial Officer of Otto Energy Ltd, an ASX-listed oil and gas company with a current focus on activities in the United States. Mr Allen played a pivotal role in Otto’s erstwhile successful Philippines operations and led the sale of that business in 2014. Prior to joining Otto, Mr Allen spent more than eight years with Woodside Petroleum Ltd as Finance Manager.
Mr Allen is a Fellow of the Chartered Accountants Australia and New Zealand (CAANZ), a Fellow of the Financial Services Institute of Australasia (FINSIA) and a Graduate Member of the Australian Institute of Company Directors (AICD).
Commenting on Mr Allen’s appointment, Hastings Technology Metals Executive Chairman, Mr Charles Lew, said: “We are delighted that someone with Matt’s depth and breadth of experience has agreed to join Hastings as we finalise Yangibana’s offtake and financing agreements ahead of a start of construction.
“His appointment also further strengthens our senior leadership team as we progress on our journey towards becoming the next rare earths producer in Australia. With the strong thematics for EV, Hastings is well placed towards our goal of getting into production in 2H 2023.
“I want to thank Ms Pit Wah Chung, who has been the Company’s CFO since 2017, for her invaluable contribution. Going forward, Ms Chung will transition to head up internal audit.”