South Harz Potash Ltd (ASX:SHP)'s current chairman, Ian Farmer, has been appointed to the role of acting executive chairman.
This appointment follows the immediate departure of managing director and CEO, Chris Gilchrist, from the business.
“I am pleased to assume the role of executive chairman to facilitate the current senior leadership transition,” Farmer said.
“On behalf of the Board and all shareholders, I would like to thank Chris for his commitment and dedicated service to South Harz over the past four years. We wish him well in both his future professional and personal endeavours.”
Highly experienced mining executive
Farmer is a highly experienced, UK-based mining executive. He served as CEO of the third largest platinum miner globally, Lonmin Plc (LSE:LMI), between 2008 and 2012. During his tenure he oversaw a period of significant operational and financial transformation.
In his 26 years at Lonmin Plc (LSE:LMI), and its parent company Lonrho plc, Farmer held various other senior financial and management positions, including Chief Strategy Officer from 2001 to 2008.
He also led the acquisition of various junior mining projects and their integration into the Lonmin group.
He has been a non-executive director of the Royal Marsden NHS Foundation Trust in the UK since 2014 and was previously a non-executive director of VTTI Energy Partners LP from 2014 to 2017.
Global search for successor
A global search process for the appointment of South Harz’s next CEO is underway. Once the right person has been found, Farmer will step back from executive duties and resume the role of non-executive chairman.
While this process is underway, the company plans to establish its key operational management and personnel hub in Thuringia, Germany. This will relocate the core operational team to the South Harz region as the business seeks to advance its world-class potash assets through development and into production.
Resource update and scoping study on horizon
The company confirms that its current project activities remain on schedule. Drilling of a second confirmatory drillhole within the Ohmgebirge mining licence area of the South Harz Potash Project has wrapped up, and assay results are expected during June.
“South Harz is moving through an exciting phase with the recent completion of the Ohmgebirge confirmatory drilling, coupled with the scheduled resource update and then scoping study completion,” Farmer said.
“I look forward to actively driving the business through this phase as we rapidly progress our South Harz Potash assets through development and into production.”