Core Lithium Ltd (ASX:CXO) has bid farewell to its managing director Stephen Biggins, who announced his decision to resign following the opening of the Finniss Lithium Mine and the appointment of Gareth Manderson as chief executive officer.
“The Finniss Lithium Mine official opening was the culmination of 12 years of rewarding dedication to achieve this rare milestone and I feel that now is the right time to step down as managing director," Biggins said.
“I want to take this opportunity to thank the board, management, employees and shareholders of Core as well as the stakeholders in the successful Finniss Project, both in the NT and around the globe for their support over the years.
“Now is the ideal opportunity to hand over the leadership to Gareth as he has settled into the role as CEO.
"The business is now in great shape, the financial performance is strong and at the Finniss Lithium Project, we have built a platform for sustainable growth for many years to come,” Biggins added.
Long-lasting legacy
In acknowledging Biggins’ “remarkable service”, Core chairman Greg English said the former managing director had left a significant long-lasting legacy and had set the company up for strong earnings growth.
“On behalf of the Core team, I would like to thank Stephen for his outstanding contribution to the company, and we wish him well in his other ventures,” English added.
Next lithium producer
Core Lithium is building Australia’s newest and most advanced lithium project on the ASX, the Finniss Project in the Northern Territory.
With first production on schedule for delivery by the end of 2022, the project places Core Lithium at the front of the line of new global lithium production.
Finniss has been awarded Major Project Status by the Australian Federal Government, and is one of the most capital-efficient lithium projects, with arguably the best logistics chain of any Australian lithium project.
The project is expected to supply high-grade and high-quality lithium suitable for lithium batteries for use in electric vehicles and renewable energy storage.