Experienced former Rio Tinto (ASX:RIO) executive Mitchell Thomas will join Latin Resources Ltd (ASX:LRS) as chief financial officer (CFO) ahead of the company’s upcoming preliminary economic assessment and DFS.
Mitchell spent 12 years at Rio, working in Australia, Peru, USA and London and his strategic mindset and experience in business case optimisation will be invaluable in the development studies for Latin’s Salinas Lithium Project in Brazil.
His knowledge and relationships across project finance, offtake partners and other commercial areas are also expected to unlock value.
“We are very excited to have Mitch join Latin Resources. An accomplished CFO with his experience and skillset in lithium project development will provide a tremendous amount of support to the Latin team as we progress the Salinas Lithium Project,” Latin Resources’ managing director Chris Gale said.
“The appointment of Mitch with an upcoming preliminary economic assessment and DFS being currently developed gives Latin a great advantage to ensure our milestones are met on time and on budget.”
Skilled operator
Along with his myriad skills, Mitchell is a skilled operator in the lithium space.
At his last role at Rio Tinto, Mitchell was CFO of the Battery Materials Division with financial responsibility for global borate operations and lithium development projects in Argentina and Serbia.
He also spent time at battery material business Blackstone (NYSE:BX) Minerals where, as CFO, he assisted in progressing the DFS for one of the world’s largest nickel sulphide development projects.
Mitchell has a clear passion for the battery metals space and as a bonus can speak fluent Spanish.
VP of operations
Latin has also moved current GM of Geology Tony Greenaway into the VP of Operations – Americas role.
Greenaway will relocate to Canada as Latin gets set to open a Toronto office, to ensure that timelines for its resource upgrade, test work, PEA and DFS are met.
The company has engaged consultants in Canada for feasibility and design work.
“We are really pleased and appreciate greatly Tony Greenaway’s commitment to move to Toronto to be closer to our operations. This will assist Latin in expediting our feasibilities studies along with our Salinas Lithium Project business plan,” Gale said.