Firefinch scores former Galaxy Resources CEO as managing director of its Leo Lithium spin-off
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The former CEO of $2.5 billion lithium miner and developer Galaxy Resources, Simon Hay, will start at Firefinch from January 10, 2022.
Firefinch has scored the appointment of former Galaxy Resources’ chief executive officer Simon Hay as the managing director of its lithium spin-off Leo Lithium from January 10, 2022.
With a career spanning 30 years both in Australia and overseas, Firefinch (ASX:FFX) believes Simon Hay is a high-achieving minerals professional with extensive management and technical experience.
During his role at Galaxy, the recent A$5 billion merger of equals with Orocobre Limited (ASX:ORE) was undertaken, creating the fifth largest lithium producer globally.
Under his leadership, the company’s hard rock spodumene mine in Western Australia achieved consistent and record production rates and the Sal de Vida Lithium Brine Project in Argentina advanced from feasibility into construction.
Hay has an astute knowledge of the lithium market and is well regarded in the capital markets for having created value at Galaxy.
Firefinch chairman Dr Alistair Cowden said Hay “brings a proven track record for execution and value creation in the lithium sector, and a deep understanding of West African mining projects. Simon is highly regarded in the industry and among the investment community and we are delighted with his appointment.”
In addition to his broad functional experience in executive and management roles, Hay’s technical experience covers functions of smelting, refining, project commissioning and life cycle of capital works across various commodities.
Prior to his time at Galaxy, he was the head of resource development at Iluka Resources Limited (ASX:ILU) and was responsible for exploration and geology, mine planning and development, major projects and engineering, technology, and innovation functions for Iluka’s portfolio of projects.
This included building two mineral sands concentrators in Sierra Leone, West Africa, managing a capital budget of around $400 million per annum and a workforce of around 200.
During his 10-year tenure at Iluka, Hay gained considerable Chinese metals market experience, having managed Asian and then global zircon sales and marketing from Shanghai and Singapore.
This article was developed in collaboration with Firefinch, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.