from the smh

Lynas chief executive to step down

The chairman of rare earths miner Lynas, Nicholas Curtis, is set to step down as chief executive at the end of this month.

Mr Curtis will be replaced by Eric Noyrez on March 31, who will also be appointed to the board as an executive director. Mr Noyrez is Lynas' president and chief operating officer.

Mr Curtis will remain on the board as non-executive chairman and will "continue to focus on strategy development and remain integrally involved in the development and implementation of Lynas' Shared Value program", the company said in a statement to the ASX.

"He will also continue to represent Lynas at the World Economic Forum and Co-Chair the WEF?s Global Growth Companies group."

Advertisement Liam Forde, a Lynas director, was appointed deputy chairman.

"Nick has been the inspirational force driving Lynas for the past 12 years," Mr Forde said.

"It was his experience in China that provided the pioneering vision to see the potential of the rich Mount Weld deposit, and it was his foresight and resilience that has ensured Lynas is now well-capitalised and entering a new era as the first significant non-Chinese supplier of rare earths to original equipment manufacturers."

Last month, Lynas said its Malaysian rare earths plant had produced its first products, almost two months after the facility's cracking and leaching extraction units started operations.

"The recovery rates from the cracking units continue to be high, that is, in excess of 90 per cent of the contained rare earth oxides," the company said.

The Australian company started production in its Malaysian plant in December after being delayed by legal action from environmentalists.

It strongly refuted local activists' claims that residents living near the plant could face health and environmental risks if there were leaks from radioactive waste.

Lynas shot to prominence as Australia's answer to China's monopoly on global production of rare earths – a group of metallic elements of strategic importance due to their vital role in the manufacture of rechargeable batteries, wind turbines and tablets.

China is the world's biggest supplier of rare earths.



Read more: http://www.smh.com.au/business/mining-and-resources/lynas-chief-executive-to-step-down-20130304-2ffce.html#ixzz2MWaxlvjt