Former Calibre Group boss Rodney Baxter has been named chairman of mineral sands miner MZI Resources, following Malcolm Randall’s retirement from the role today.
Mr Randall will step down as chairman today but will remain on the board as a non-executive director until the Perth-based company’s annual general meeting in November, at which point he will retire from the board.
He spent 10 years on the company’s board, including four years as chairman, and oversaw MZI’s transition from junior explorer to producer of leucoxene at its Keysbrook mine near Pinjarra.
“It has been a great honour and privilege to be chairman of MZI, and after nearly 10 years with the company, I think the time is right to hand over to Rod to oversee the exciting next stage of MZI’s development,” Mr Randall said.
“With Keysbrook now generating strong sales revenue and ramping up to steady state production, our improving balance sheet, and our world-class resource base providing an outstanding platform for future expansion and growth, I leave the role with MZI in the best possible shape to generate real long term value for all shareholders.
“I believe Rod is the right person with the right skills and drive to achieve this objective.”
Mr Baxter joined MZI as a director in April last year and takes the role of chairman from today.
His employment terms will match that of his predecessor.
“It is an enormous honour to take the reins from Mal at this exciting point in MZI’s history, and I and the rest of the MZI board are looking forward to carrying on his work to consolidate and build upon the outstanding platform that Keysbrook provides with the aim of making MZI a leading long-life producer of premium quality titanium dioxide feedstocks and zircon,” Mr Baxter said.
MZI shares were 2.7 per cent higher to 37 cents each at 1:30pm.