Craig Williams calls time

Geologist and mining executive Craig Williams, who led the rise of Equinox Minerals to a $US7 billion success story, has announced he is retiring from all boards of ASX companies.

Aged 70, Mr Williams plans to spend more time with his family and pursue personal interests.

As well as leading Zambia focused Equinox, Mr Williams was a founding director of lithium success story Liontown Resources.

He was also chair of OreCorp, which recently completed a definitive feasibility study on the Nyanzaga gold mine in Tanazania.

In addition, he was chair of OreCorp spinout Solstice Minerals and a director of Liontown spin-out Minerals 260.

All four companies today hailed his contribution over a 50-year career.

Liontown chairman Tim Goyder said Mr Williams had enjoyed an exceptional career and been an integral part of the Liontown story from its foundation 17 years ago.

“I am proud to count Craig as a close friend, colleague, mentor and adviser throughout that time,” Mr Goyder said.

“It has been far from smooth sailing for much of that period in Liontown and we have been through a great deal together, in terms of market cycles, jurisdictions and commodities.

“Craig has made an enormous and lasting contribution to Liontown and his input and guidance has been invaluable.”

OreCorp managing director Matthew Yates first met Mr Williams 30 years ago when he joined Hunter Resources – a company run by Mr Williams and his best friend, the late Bruce Nisbet.

“He has been a mentor through my career and his positive outlook and ability to resolve problems is outstanding,” Mr Yates said.

Minerals 260 chairman Anthony Cipriano commended the insight, wisdom and positive energy that Mr Williams brought as a geologist and mining executive with an exceptional track record.

Mr Williams commenced his career in uranium exploration in the 1970s before running Hunter Resources with Mr Nisbet.

The two men jointly won the AMEC prospector of the year award in 1994, for their work on two discoveries that underpin major mining operations – the Ernest Henry copper-gold discovery in Queensland and the Nimary Bore (Jundee) gold discovery in Western Australia.

That was one year after they co-founded Equinox, which developed the Lumwana copper mine in Zambia.

They faced many challenges along the way.

In 2001, when investors were captivated by the ‘dot com’ boom, Equinox’s market value fell to just $5.5 million and the company was unable to raise money for a feasibility study on the mine.

However their persistence paid off, with Equinox acquired by Barrick Gold in 2011 for $US7 billion.

Mr Nisbet did not share in that success, as he died of cancer in 2006.