Power up: Future Battery Minerals appoints former FMG boss to board
Special Report: Future Battery Minerals has appointed a new non-executive director in Neville Power as the company progresses its plans to build a world-class lithium exploration and development business.
The company’s Kangaroo Hills lithium project in WA, just 30km from Mineral Resources’ (ASX:MIN) Mt Marion lithium mine, has potential to host a lithium deposit of both scale and tonnage.
Investors like Gina Rinehart’s Hancock Prospecting have demonstrated their support for Future Battery Minerals’ (ASX:FBM) accelerated exploration plans at Kangaroo Hills and its Nevada lithium projects by strongly backing the company’s recent $7.6m placement.
Now the appointment of Nev Power – who has more than four decades of experience across mining, minerals processing, construction and steel making plus a 7 year stint as managing director and chief executive director of Fortescue Metals Group (ASX:FMG) – is expected to bolster the company’s plans further.
During Power’s tenure, Fortescue more than quadrupled its iron ore production to over 170 million tonnes per annum and positioned itself as the lowest cost supplier of seaborne iron ore to China.
“We are very pleased to welcome an individual of Nev’s calibre and professional track record to the FBM team,” FBM Non-executive Chairman Mike Edwards said.
“His achievements within the resources industry are well known, and the substantial value he will bring to our business is self-evident.
“I believe that his decision to join FBM also represents another strong validation of both our projects and people.
“I look forward to working closely with Nev and our existing team in continuing to build a world-class lithium exploration and development business.”
“I was attracted to FBM as a function of both the quality of its exploration assets and the energy and talents of its executive team,” Power said.
“This has seen the company achieve a huge amount in a relatively short period of time, and also holding a very clear vision of where it wants to go in the future.
“In my experience, these are the makings of an outstanding resources business and one that is already resolutely shareholder value focussed.
“I look forward to helping drive FBM to new levels of performance and profile.”
The company is currently gearing up to start reverse circulation drilling in January as part of the resource drilling at the Lone Mountain prospect within its Nevada lithium project, following the completion of the diamond drilling programme.
Drilling at the company’s Kangaroo Hills lithium project in WA will recommence once permitting is received to test Big Red north and the regional prospects Western Grey and Quokka.
This article was developed in collaboration with Future Battery Minerals, 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.