Blackstone Minerals Ltd (ASX:BSX, OTCQX:BLSTF) has ushered in a new chief financial officer to oversee the company’s monetary arm as it enters its next phase of development
Mitchell Thomas will step into the role next month after previously serving as CFO at mining giant Rio Tinto.
The new recruit brings more than 15 years’ experience across precious, base, specialty chemicals and bulk materials projects, which he’s seen come to life across Australia, Africa, Europe, South and North America.
Thomas is a Chartered Accountant (CAANZ) and holds an MBA from Melbourne Business School.
“Vital member of the team”
Managing director Scott Williamson said of today’s appointment: “We are delighted to have Mr Thomas join the Blackstone team at a critical time in the business, to advance the Ta Khoa Project to a final investment decision, through construction and towards commercial operations.
“Mr Thomas has a suite of skills that are complementary to Blackstone’s growth trajectory and will ensure financial discipline is applied to the execution of key upcoming milestone events including partnership formalisation and commercialisation of supply and offtake agreements.
“[He] will be a vital member of the team given his experience, relationships and passion for supporting sustainable growth in the battery materials sector.”
Blackstone has also announced that existing CFO Jamie Byrde will continue his tenure as company secretary.
The company believes the move will support the CFO transition as Byrde fulfils his other responsibilities with ASX-listed entities.
About Blackstone
Blackstone Minerals is focused on building an integrated upstream and downstream battery metals processing business in Vietnam that produces nickel-cobalt-manganese precursor products for Asia’s growing lithium-ion battery industry.
The company owns a 90% interest in the Ta Khoa Nickel Project (TKNP), 160 kilometres west of Hanoi in the Son La Province of Vietnam.
The TKNP includes an existing modern nickel mine built to Australian standards, which is currently being used to process nickel ore delivered by the underground bulk sample program.
Ban Phuc nickel mine operated as a mechanised underground nickel mine from 2013 to 2016.
Blackstone’s TKNP and Ta Khoa Refinery (TKR) are the two major cogs in the company’s vertically integrated development strategy, together forming the Ta Khoa Project.
The company’s development strategy is underpinned by its ability to secure nickel concentrate and Ta Khoa bears promise with several exploration targets yet to be tested.
In February 2022, Blackstone completed a pre-feasibility study for the TKNP and presented this on an integrated basis with the proposed TKR development.
The TKR is being designed to have a refining capacity of 400,000 tonnes per annum, with feedstock provided from a combination of concentrate from the TKNP and third-party feed sources.
Nowadays, pilot plant testing and definitive feasibility studies are underway and will continue to technically de-risk the Ta Khoa Project.
At both the mine (upstream) and refinery (downstream) level, Blackstone is focused on a partnership model and is collaborating with groups who are focused on sustainable mining, minimising carbon footprint and implementing a vertically integrated supply chain.
