(Alliance News) - Vanadium project developer Ironveld PLC on Friday said it has hired former Rainbow Rare Earths Ltd boss Martin Eales as chief executive officer, effective from December 16.
Ironveld also said that former acting chief executive Peter Cox will become a technical director focusing on future smelting operations and offtake partners.
Eales, who served as chief executive of miner Rainbow Rare Earths from 2014 to 2019, is currently a director at financial management consultancy Barham Wentworth Ltd.
Giles Clarke, board chair commented: "Martin's strong sector knowledge and experience supporting and leading companies to deliver their growth plans will be invaluable in guiding Ironveld through the next phase of its development. I would like to thank Peter Cox for his contribution whilst acting as chief executive officer and look forward to working alongside him in his new role."
On Thursday, Ironveld reported a widened loss for year to the end of June to GBP625,000 from GBP536,000 a year prior due to an increase in operating expenses.
Shares in Cardiff-based Ironveld were up 3.5% at 0.75 pence per share on Friday in London.
By Ife Taiwo; ifetaiwo@alliancenews.com
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Rainbow Rare Earths (RBW)
Ironveld (IRON)