Euro Manganese Inc (ASX:EMN, TSX-V:EMN, OTCQX:EUMNF) has a new CEO at the helm.
Dr Matthew James has been appointed to lead the manganese stock, taking up the baton from long-serving chief executive and EMN founder Marco Romero from today.
Dr James is described as a highly experienced corporate executive who has worked across both established global industrials and small growth companies.
He brings extensive experience in the natural resources, chemicals and environmental services sectors to the role, which will help Euro Manganese drive its flagship Chvaletice manganese asset towards production.
Once online, the Czech Republic-based manganese plant will produce high-purity battery raw materials, primarily for the growing European electric vehicles market.
Dr James’ appointment brings to a close an extensive search for Euro Manganese’s new leader, spearheaded by global executive search firm Korn Ferry.
Building on the vision
Speaking to the CEO transition, EMN non-executive chair John Webster said: “We extend our sincere thanks to Marco for getting us to where we are today.
“He set the company’s vision and its high technical, ethical and environmental standards, secured our core asset and raised over $67 million to fund its evaluation and planning.
“He also developed positive industry, community and customer relationships, and brought together a strong team to advance the Chvaletice project."
Webster went on to welcome Dr James as EMN’s next leader.
“Matthew can now build on Marco’s outstanding contributions, as he leads the company through its next stage of development.
“His technical, financial and management skills and experience in taking early-stage companies to the next level will be invaluable to us as we progress our plans to move from a development stage company into a sustainable producer of high purity manganese products serving the fast-growing EV battery space.
“He will lead and build out our team to finance and enable the development of Europe’s only significant manganese resource at Chvaletice in the Czech Republic.”
An experienced chief executive
EMN’s new CEO is an old hand when it comes to developing companies within the global natural resources industry.
As vice president of strategy and corporate communications at Lynas Corporation (ASX:LYC), Dr James helped raise more than A$1 billion in equity and debt funding.
During his nine years at the specialty metals stock, the business grew from a junior miner with an undeveloped project to an ASX100 company with a market capitalisation of roughly A$3.5 billion.
In 2011, Dr James became the founding managing director of Rutila Resources, where he negotiated the purchase of a vanadium-titanium-magnetite deposit.
Upon returning to the UK in 2014, Dr James led a strategic growth consultancy focused on natural resources, materials and environmental services.
From 2017 to 2020, he was vice president of strategy and business development on the executive leadership team at Harsco Corporation (NYSE:HSC), a global industrial environmental services company.
Dr James worked in London at Deutsche Bank from 1995 to 1998, followed by four years at McKinsey & Company, where he provided support and advice to clients at the CEO and board level of major companies in strategic, organisational and operational projects.
EMN’s new CEO received a bachelor of engineering degree with honours from the University of New South Wales, Australia, and a PhD in Material Science and Engineering from Queens’ College at the University of Cambridge.
He is a graduate member of the Australian Institute of Directors.
Vision for a multi-asset company
Speaking to his appointment, Dr James said it was an exciting time to be joining Euro Manganese.
“There is international consensus to dramatically reduce the world’s carbon footprint, driven by governments, investors and consumers.
“The electrification of vehicles is an important part of the solution and has been embraced by the automotive industry and consumers alike, with rapidly increasing global production forecasts.
“However, the supply of the enabling raw materials needs to match this demand in ways that are both environmentally and socially responsible.
“Euro Manganese is uniquely positioned to become a sustainable speciality supplier of high purity manganese to the growing EV battery supply chain, with a secure source of supply from our Czech Chvaletice Manganese Project, in the European Union.
“2022 is an important year of performance milestones towards achieving this goal, including the delivery of the demonstration plant, completion of the definitive feasibility study and the environmental and social impact assessment, customer acceptance testing and off-take contracts, and the commencement of project financing discussions.
“I can’t wait to get started; the priority is to build on the excellent work that Marco and the team have accomplished to date, and to deliver the Chvaletice Manganese Project, with a vision to grow into a multi-asset company.”
More information can be found in EMN's market announcement here.