Australian Critical Minerals Ltd (ASX:ACM) has appointed Dominic Traynor as the company’s new non-executive chair, alongside the release of its audited annual report for 2023.
Traynor steps up to the chair having been a non-executive director of the company for two years.
The company noted that he has played a crucial role in shaping the company's strategic direction, as it has focussed on exploring and developing critical and clean energy metals in Morocco.
"2023 was a year of important and successful transition for the company, during which it developed a clear strategy and made strong operational progress," Traynor said in a statement.
"I am delighted to have recently taken the position of chairman following the year of progress and with so much opportunity ahead."
CMR’s annual report highlighted ‘a pivotal year, marked by a successful strategic transition and significant operational progress’.
During the period it focused on acquiring and developing opportunities in critical metals necessary for Western economies.
In this period, the company sold its Cyprus assets to concentrate more effectively on its Moroccan opportunities. In Morocco, the company acquired an 80% stake in the local exploration company Atlantic Research Minerals.
It also concluded a strategic review that led to the discontinuation of the RIWAQ Al Mawarid for Mining portfolio in Saudi Arabia.