SYDNEY, AUSTRALIA: Lindian Resources Limited (ASX: LIN) announced the appointment of Alistair Stephens as Chief Executive Officer, effective from Monday 8 August 2022.
The appointment follows Lindian’s recent announcement that it has agreed terms to acquire a 100% interest in Rift Valley Resource Developments Limited, a Malawi company that owns the globally significant Kangankunde Rare Earths Project.
Alistair Stephens is a specialist in the critical and strategic commodities sector with emphasis on rare earths and rare metals, having worked directly in the field for 20 years.
A qualified geologist, he holds a Bachelor of Science (with Honours) from James Cook University and a Master of Business Administration (MBA) from Curtin University.
His broader operational mining experience spans 35 years, with roles in mine geology, mine planning, metallurgy, advanced processing, marketing and logistics. He also has extensive hands-on experience in the planning and development of project feasibility studies.
As Managing Director of Arafura Resources Limited (ASX:ARU) until 2010, Mr Stephens played an instrumental role in the development of the Nolan’s Bore Rare Earth Project that took ARU from an early-stage exploration group with a market capitalisation of ~$4m to a ~$400m company.
More recently, he delivered the outcomes of a feasibility study for the Kanyika Niobium Project in Malawi, where he managed the project for nine years. Mr Stephens has been engaged in board roles for 18 years and has a sound understanding of corporate governance.
Over the course of his career, Mr Stephens has held senior operational and executive roles at companies including Newmont Mining Ltd and Western Mining Resources Ltd, as well as the establishment of global commodity trading house Enegra Group.
He brings to the Company a comprehensive and extensive understanding that is unique in the specialty commodity sector, and an advanced strategic tactical perspective to project development and operational implementation.
The Company also confirms that Non-Executive Chairman, Asimwe Kabunga will transition to the role of Executive Chairman. Mr Kabunga has been a director of Lindian for five years and was pivotal in securing the acquisition of 100% of the Kangankunde Rare Earths Project which is subject to shareholder approval. He has an extensive network and a proven track record in the African resources sector identifying quality projects and unlocking their value.
Mr Stephens stated: “I believe that the Kangankunde Project is the best undeveloped rare earth project in the world, with such global significance that it may redefine supply independence in the rare earth market. Having passively studied the Kangankunde project for more than a decade, I am genuinely excited by the opportunity to lead the project development program which we will immediately commence after shareholder approval is secured. I am honoured to be part of the Lindian team and will work diligently and loyally to deliver shareholder value, and of equal importance, value to our stakeholders in Malawi.”