Australian heavy rare earths producer Northern Minerals Limited (ASX: NTU) has appointed the company’s long-serving chief financial officer and company secretary Mark Tory as chief executive officer.
Acting executive chairman Colin McCavana will revert to his former role of non-executive chairman of the Northern Minerals’ Board, after a period care-taking the executive function of the Company following the resignation of former managing director and CEO George Bauk in June.
Mr Tory is a Chartered Accountant with 35 years of professional experience in the mining industry and accounting professions and has held the previous role of CFO and Company Secretary with the Company for almost eight years. His previous executive experience includes being Managing Director of Crescent Gold Limited, also after a period as Crescent’s CFO and Company Secretary.
Mr Tory has had significant international exposure to resources’ investment markets as well as financially managing the exploration for and development of a range of commodities, including base metals and gold. He held a global role as Vice President Finance for Anglo American Base Metal Exploration, which had active exploration projects across 27 countries.
Acting Executive Chairman Colin McCavana said the Board had conducted a process to evaluate executive leadership options for the Company as well as carefully considering the strategic direction of both Northern Minerals and the Browns Range Project. “The Board believes the decision to promote Mr Tory into the role of CEO represents the most appropriate path forward for the Company. As we continue to navigate the logistical and economic impacts of COVID-19 in particular, business continuity remains our priority and we believe maintaining leadership continuity will best support this outcome,” Mr McCavana said.
“Mr Tory is a highly experienced resources executive with significant corporate memory of the journey Northern Minerals has been on with Browns Range.”