Future Battery Minerals has named Nick Rathjen as its managing director and chief executive officer – effective from December 6 – as the company looks to develop its Kangaroo Hills and Nevada lithium projects.
Management says Mr Rathjen has a proven track record with more than a decade in equity capital markets, corporate development and mineral marketing, with extensive experience in the lithium sector. His most recent experience is as head of corporate development at Canadian lithium developer Green Technology Metals and he previously led corporate development at Prospect Resources.
At Prospect, Future Battery says Mr Rathjen played a key role in the advancement and development of the Arcadia lithium project in Zimbabwe through both the financing process and marketing of the key products to be mined and processed at the operation.
Management says his understanding of lithium mining, processing, marketing and downstream conversion brings a broad list of capabilities to the company. He holds a Master of Applied Finance, Bachelor of Commerce, Diploma of Investor Relations and is a graduate of the Australian Institute of Company Directors.
We are delighted to welcome Nick to the team as our Managing Director and CEO at a pivotal point for the Company’s transition to becoming a significant lithium focused business. The Board is confident in his ability to lead the Company through the current challenges and the next exciting phase of its growth. Future Battery Minerals executive chairman Mike Edwards
Mr Rathjen said he was “deeply passionate” about developing lithium projects and saw Kangaroo Hills, which sits about 17km south of Coolgardie, as a project of genuine potential. Originally part of an 80-20 joint venture between Future Battery and Lodestar Resources, the former took full control of the operation just last month in a $3.5 million deal.
But Future Battery is not alone in its search for lithium in the area, with neighbouring giant Mineral Resources operating a mine 30km to the east of Kangaroo Hills at Mount Marion, which boasts an impressive mineral resource of 60.5 million tonnes at 1.36 per cent lithium oxide.
In June last year, Future Battery acquired an 80 per cent share in the Nevada operation from the shareholders of Nevada Australia, who will retain the remaining 20 per cent interest.
The project is in prime lithium real estate, with several big sedimentary-hosted deposits calling the area home. They include Ioneer Resources’ Rhyolite Ridge and American Lithium Corporation’s TLC lithium project. Albemarle’s Silver Peak operation, which is currently the only producing lithium mine in North America, lies about 45km to the west of the Nevada project.
Formerly known as Auroch Minerals before a name change in March this year, Future Battery is building an impressive portfolio with a focus on minerals critical to present and future battery needs. With an experienced lithium hand set to lead the company into next year, the future is looking bright for the ASX-listed lithium explorer.
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