05/10/2021 - 14:00

Former Fortescue executive joins South Australian miner

05/10/2021 - 14:00

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Don Hyma has been appointed managing director of Australian Rare Earths, following his resignation as director projects at Fortescue Metals Group earlier this year.

Don Hyma will move to Adelaide for the role.

Don Hyma has been appointed managing director of Australian Rare Earths, following his resignation as director projects at Fortescue Metals Group earlier this year.

Mr Hyma was among several executives who resigned suddenly in February after cost blowouts at Fortescue’s Iron Bridge project.

At the time, Fortescue chief executive Elizabeth Gaines said the departures were due to cultural issues but gave no further details.

Prior to working at Fortescue, Mr Hyma was technical director at Mitsui & Co, general manager and vice president projects for Rio Tinto, and has also held senior management roles for Falconbridge, now called Glencore.

In total, he has more than 30 years’ experience in mining and resources, across copper, nickel and iron ore.

Australian Rare Earths managing director and chair Dudley Kingsnorth said Mr Hyma’s domestic and international mining experience, capital project management abilities and development of projects from conception to production made him a clear choice.

“At this critical time in the development of Koppamurra we are confident that he is the right person to lead the company through our well-defined growth strategy,” Mr Kingsnorth said.

“As part of the Don’s selection and appointment he spent four days in South Australia which enabled him and the directors to recognise that we have a common approach to the development of Koppamurra.

“Importantly, Don will be relocating from Perth to Adelaide; a critical move to ensure Koppamurra is successfully advanced and developed with regular reference to the local communities.”

Mr Hyma said he was looking forward to moving to South Australia and working closely with the team.

“The company’s approach to working closely with the local community and Government is one that I share and key to my acceptance of the appointment,” Mr Hyma said.

“AR3 is well positioned to develop Koppamurra to be able to meet the growing demand for rare earth elements that are critical as the world transitions to clean technology and renewable energy.”

Mr Hyma’s base salary will be $360,000, plus various short-term and long-term incentives.

Australian Rare Earths owns a rare earths deposit in South Australia and Victoria, called Koppamurra.

Shares in the company were trading at 93 cents each at 1:40 AWST, down 4.6 per cent. 

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