Peak Resources advises that its CEO, Rocky Smith, will cease employment with the company at the end of October 2020.
Rocky joined Peak in early 2016 as its COO Development and then CEO from November 2017.
His input has been instrumental in the development of the Peak Resources’ plans to become a two-site integrated producer of rare earth oxide products, focused on the high value NdPr oxide product necessary to produce high quality, efficient permanent magnets that are a core component in approximately 90% of in-production, or planned, electric vehicle models.
Read more about the Ngualla project
Peak Resources is one of the few rare earth project development companies that has a fully piloted process through to separated products.
The Company plans to produce an upgraded concentrate at its site in Tanzania for shipping to its proposed separation facility in Teesside, the United Kingdom, for refining into the higher value separated product streams.
Read more about mining in Tanzania
Controlling this process in-house and producing separated products will enable Peak Resources to capture more of the value from these sought-after rare earth products.
Peak has secured all permitting for its Teesside facility and has the land secured under option until June 2021 whilst it awaits the Tanzanian government to grant the SML.
Peak Resources intends to allocate Rocky’s CEO duties across its directors and executive team.
“I’d like to thank the Peak team over the past four years in Perth and Tanzania for their support. Without their dedication it would not have been possible to bring this project to the current state of readiness.
“I’d also like to thank the many Peak Resources shareholders that have been so supportive of the project, particularly over the past couple of years.”
Peak’s Acting Chair, Tony Pearson, comments:
“The Board sincerely thanks Rocky for the enormous commitment he made relocating to Australia in early 2016 to join the Company, and the drive and passion with which he has pursued Peak’s objectives to develop the Ngualla deposit and Teesside separation facility.”
“As previously advised Peak continues to focus its available resources on the grant of the SML.
“The SML is the final major regulatory requirement for the combined project. Once approved, Peak Resources will be in a position to negotiate an economic framework for the project with the Tanzanian Government and move forward with its project development plans.”