A new chief financial officer (CFO) will join Latrobe Magnesium Ltd (ASX:LMG) on October 30 as the company ramps up the expansion of its operations and activities in developing a magnesium production plant in Victoria's Latrobe Valley using its world-first patented extraction process.
John Collier has more than 35 years of experience in various roles from commercial director, chief financial officer and company secretary within private and publicly listed companies in infrastructure and construction (toll roads, water and metro trains) and professional services.
LMG will draw on his skills and leadership, particularly in larger projects, as it works through Stage 2 and Stage 3 developments costing in the order of $1.4 billion.
Using waste fly ash
The company is focused on transforming industrial fly ash, a by-product from Yallourn brown coal power generation, into marketable magnesium metal and cementitious material.
LMG has finalised a feasibility study that confirms the efficacy of its hybrid hydrometallurgical and thermal reduction process for metal extraction. Commissioning of the initial magnesium extraction plant, with an annual capacity of 1,000 tonnes, is targeted for the end of the first quarter of 2024.
Located centrally in Victoria's coal power generation district, the plant is advantageously positioned for immediate access to raw materials, infrastructure and labour. A subsequent commercial facility, designed to produce in excess of 10,000 tonnes of magnesium per annum, will follow shortly.
The company intends to export the refined magnesium to customers in the United States under long-term contracts. This move could be transformative for Australia, which currently imports 100% of its 8,000 annual tonnes of consumed magnesium.
Diverse leadership experience
Collier brings a robust track record in strategic planning, leadership and operational management to LMG.
In the past six years, he was associated with CPB Contractors, handling two contracts totalling $4.6 billion in design, engineering and construction work for projects like Sydney Metro's City and Southwest Project, and Western Sydney Airport.
Before joining CPB Contractors, Collier served as the chief financial officer for Countplus Limited and BDO – Chartered Accountants and Business Advisors for two and six years, respectively.
During his tenure, he accrued considerable expertise in the financial operations of listed companies and advisory services, overseeing a combined revenue exceeding $200 million.
In 2005, Collier joined The Hills Motorway Limited, holding various positions including CFO and company secretary. After Transurban's $2 billion acquisition of Hills Motorway in June 2005, he was designated as head of Hills M2, responsible for all management, operations, finance and administration.
Earlier in his career, he spent four years at Australian Water Services Pty Ltd, a Lend Lease subsidiary, as CFO and company secretary. Collier's professional journey began at KPMG, where he worked for 12 years, eventually becoming a senior audit and business service manager.