Min and Lithium, page-166

https://thewest.com.au/business/min...hium-boss-amid-demerger-speculation-c-8332358

Mineral Resources parts ways with lithium boss Paul Brown amid demerger speculation

Stuart McKinnonThe West Australian
Fri, 23 September 2022 10:36AM
Stuart McKinnon


Mineral Resources lithium boss Paul Brown. Credit: Mineral Resources

Mineral Resources lithium boss Paul Brown has made a sudden exit from the Chris Ellison-led company, just two weeks after speculation emerged about a potential spin-out of the division he headed.
In an internal email obtained by The West Australian, Mr Ellison revealed news of Mr Brown’s departure to staff as one of “great sadness”.

It remains unclear what prompted Mr Brown’s sudden departure or whether he has accepted a position with another employer.

However the company has immediately appointed its executive manager of development Josh Thurlow into the lithium role left vacant by Mr Brown.

Mr Brown, who had been with MinRes for seven years, was previously chief executive of the company’s commodities division but transitioned to lithium exclusively when Chris Soccio was brought on as iron ore chief executive in July.

He started with MinRes in 2015 running the company’s Iron Valley operation in the Pilbara and oversaw the recommencement of operations in the Yilgarn with the Koolyanobbing iron ore mine.
He also brought the companyt’s new Wonmunna iron ore mine in the Pilbara into production earlier this year, just five months after breaking ground at the site.

Mr Ellison’s email stated: “Paul has been instrumental in growing MinRes to become Australia’s fifth largest iron ore producer and has also been a champion for safety, leading MinRes to have one of the best safety records in the industry and driving an industry-leading response to COVID”.

Mr Thurlow was a former senior manager at Newcrest Mining before joining MinRes in 2019 as general manager of project development and technical services before being promoted in 2020.
“Since joining MinRes, Josh has built the project development team from the ground up and in doing so has lifted our credibility with a wide range of key stakeholders including government regulators and Traditional Owner groups,” Mr Ellison said in his email to staff.

“Team, the future of MinRes is bright. I look back on what has been achieved in the past 30 years and what we have planned and I am immensely proud.
“Please join me in thanking Paul and wishing him all the best in his future endeavours, and congratulating Josh on his promotion.”

The news comes just two weeks after speculation emerged that MinRes was eyeing a spin-off if its lithium division, that is expected to generate billions of dollars in added shareholder value.
It is understood MinRes would retain a significant stake in any demerged entity, with a likely listing of the company in the US.

MinRes shares were off $2.26, or 3.2 per cent, to $67.70 in a sharply weaker market.