Minerals 260 (ASX:MI6) - Managing Director, David Richards
Managing Director, David Richards
Source: The Market Herald
The Market Online - At The Bell

Join our daily newsletter At The Bell to receive exclusive market insights

  • Liontown Resources (LTR) has appointed Tony Ottaviano as Chief Executive Officer and Managing Director, effective from May 2021
  • The new CEO will receive a fixed annual remuneration of $575,000 per annum, inclusive of superannuation
  • Tony Ottaviano previously served as a Program Director for BHP Limited (BHP) and in executive roles at Rio Tinto (RIO) and Wesfarmers (WES).
  • Ottaviano succeeds David Richards, who will now transition to the newly created role of Technical Director
  • Shares remain in the grey, last trading at 41 cents each

Liontown Resources (LTR) has appointed Tony Ottaviano as Chief Executive Officer and Managing Director of the company, effective from May 2021.

The new CEO will receive a fixed annual remuneration of $575,000 per annum, inclusive of superannuation.

Tony Ottaviano previously served as a global mining executive for two of the world’s largest mining companies, BHP and Rio Tinto, and comes with strategic, operational, commercial and corporate experience.

Tony Ottaviano will oversee the company’s next phrase as it begins the financing and development of a major new lithium mine at its Tier-1 Kathleen Valley lithium-tantalum project in Western Australia.

“I was attracted to Liontown because of the exciting opportunity to build a world-class battery metals business that can play a meaningful role in the impending global energy transformation,” said Ottaviano.

“As a Tier-1 lithium asset with world-class scale and economics, Kathleen Valley is uniquely placed to meet growing demand for battery raw materials, both as a low-cost spodumene producer and as a potential participant in the high-value downstream segment of the lithium raw materials supply chain.”

Ottaviano succeeds David Richards, who will now transition to the role of Technical Director, where he will steer the company’s early-stage exploration projects outside of Kathleen Valley, such as the Moora gold-nickel-copper project in WA’s Julimar Region.

“With Tony at the helm, I have every confidence that Liontown will be in very safe hands as we make the all-important transition from explorer-developer to mid-tier mining company. We are absolutely delighted that he has agreed to take up this opportunity,” said Liontown Chairman, Tim Goyder.

Shares remain in the grey at 9:20 am AEDT and last traded at 41 cents per share.

LTR by the numbers
More From The Market Online

Sierra Rutile rejects takeover bid from PRM Services again

Sierra Rutile has urged its shareholders for a second time to reject a takeover offer from…

Terra Uranium picks up prime 15M-pound deposit in Canada

Terra Uranium has bolstered its Canadian portfolio by acquiring the Amer Lake deposit in Nunavut, which…
The Market Online Video

Lithium Universe locks in shipping port location for lithium spodumene imports

Lithium Universe (ASX:LU7) has locked in a maritime port through which it can receive shipments of…

AIC raises ore reserve estimates by 86% copper and gold at QLD’s Jericho

AIC Mines has updated its ore reserve estimate at the Jericho deposit in north Queensland showing…