Hawsons Iron Ltd (ASX:HIO) has appointed a new chair to lead the board through the company’s next critical phase to fund a modified bankable feasibility study (BFS) for its flagship, high-grade magnetite project near Broken Hill in NSW - the Hawsons Iron Project.
Non-executive director Jeremy Kirkwood, previously a managing director at Credit Suisse (SIX:CSGN), Morgan Stanley (NYSE:NYSE:MS) and Austock, has been appointed chair effective immediately.
Kirkwood has served as a director on a range of public, private and not-for-profit company boards, sits as chair of Joyce Corporation Ltd (ASX:JYC) and is a non-executive director of Talisman Mining Ltd (ASX:TLM). He takes over from Bryan Granzien who has resumed his former role as managing director after serving as interim executive chair since April.
Granzien said, “Jeremy is an experienced company director and former investment banker, who was appointed to the Board in early May 2023 to fill the vacancy following the retirement of former chair, David Woodall.”
“His appointment ensured the ongoing presence of appropriately experienced and qualified people on the board. We are delighted he has agreed to accept the role of chair at this critical point as the company prepares to seek potential strategic investment partners to help fund the modified BFS.”
Positioned to participate in a green steel future
Kirkwood said, “I first invested in Hawsons in December 2021 because I believe the company is well positioned to participate in the steel industry’s transition to a ‘green’ future, and empathise with shareholders’ frustration over the necessary slowdown of the BFS and progress toward production.
“Although the last 12 months have had many challenges, I understand the need for the Strategic Review and believe significant improvements have been achieved that strengthen the project’s business case and will deliver long term benefits.”
Kirkwood said the creation of a ‘green’ global steel industry would require massive associated investment and significant structural change in the commercial linkages between up- and down-stream participants over the next few decades.
“I am confident Hawsons has a strategic resource that will play an important role in a green steel future, mainly because it supports the industry’s lower risk path to achieving decarbonisation than new, unproven steel-making technologies,” he said.
“We are now approaching a critical stage in determining how Hawsons’ resource will play into this theme as we seek to determine our partners for completing the BFS, developing the project and commencing production of Hawsons Supergrade® concentrate. I am excited about the company’s future.”
The company says its Hawsons Iron Project is potentially capable of producing the world’s highest‐grade iron product (70% iron), making it among the world’s leading undeveloped high‐quality iron ore concentrate and pellet feed projects.