Mineral Commodities appoints current CFO as interim CEO

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Graphite mill at Mineral Commodities Skaland project in Norway.
Camera IconGraphite mill at Mineral Commodities Skaland project in Norway. Credit: File

Graphite and mineral sands player Mineral Commodities have welcomed Chief Financial Officer Adam Bick as its interim CEO effective immediately after former Managing Director and CEO Jacob Deysel stepped aside for personal reasons.

Deysel will continue to support the company’s five-year strategic plan to vertically integrate itself into the battery and heavy mineral sectors in an advisory role.

Bick initially joined Mineral Commodities in 2017 as the company’s Group Financial Controller and Commercial Manager before being appointed Chief Financial Officer in June 2019.

The new interim CEO is a chartered accountant with more than 24 years of experience in the resources sector where he operated in several high-ranking commercial roles. Bick’s resume includes stints at Fortescue Metals Group, ARC Energy and New Zealand Oil & Gas.

Bick’s commodity experience ranges from energy, iron ore and importantly, mineral sands.

The announcement follows the hire of legal expert Brian Moller as a non-executive chairman. Mr Moller performs similar duties at ASX-listed companies AusTin Mining, Platina Resources and Tempest Minerals and also takes up boardroom positions at several other foreign firms.

Adam has a long term understanding of MRC’s assets and has built positive, wide ranging relationships with staff, customers, suppliers, shareholders and regulators. He brings strong business acumen and will continue to deliver the Strategic Plan for shareholders.

Mineral Commodities Chairman Brian Moller

Bick will initially be tasked with progressing the company’s five-year strategic plan, a goal management says will enable it to become a larger, more diversified and sustainable minerals producer. The plan will see the Perth-based company transition its global businesses through the production of concentrates to downstream finished products.

Mineral Commodities will aim to reach its goal via the shipping of battery anodes to Europe alongside its provision of completed garnet and ilmenite from South Africa.

To achieve economies of scale and supply the expanding market, the company intends to integrate its top-tier graphite operations in Europe and Australia.

The company believes its Skaland project in Norway is the world’s highest-grade operating flake graphite mine at 1.84Mt going an extraordinary 23.6 per cent graphitic carbon. Whilst at its Munglinup project in Australia, Mineral Commodities boasts a 7.99Mt mineral resource going 12.2 per cent total graphitic carbon with a 4.24Mt reserve that remains open along strike and at depth.

The company is currently awaiting environmental approval for a potential processing plant at Munglinup and is considering establishing a battery anode materials plant using ore from Skaland in Scandinavia.

Is your ASX-listed company doing something interesting? Contact: matt.birney@wanews.com.au

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