Power Minerals makes key appointments to progress Salta lithium strategy
Power non-executive chairman Stephen Ross says it is important for the company to have the right mix of people to achieve its ambitions at the Salta lithium brine project.
Power Minerals (ASX: PNN) has made two key appointments to support its rapidly-developing lithium strategy at the Salta project in northwest Argentina.
Executive director Mena Habib has been moved into the role of managing director, while former Lake Resources’ (ASX: LKE) technical director Dr Nicholas Lindsay will assume the role of technical advisor.
Both appointments are designed to ensure Power has the right mix of skills to support its lithium work in Argentina, as well as its critical mineral projects in Australia.
Acknowledging contribution
Mr Habib’s new appointment acknowledges the contribution he has made to the company’s growth since January 2022 which has included establishing in-country relationships for the Salta project as well as implementing an exploration and development strategy focused on expediting commercial outcomes.
Over the past 12 months, Mr Habib has negotiated agreements with direct lithium extraction (DLE) industry leader Sunresin New Materials Co and battery metals end-to-end supply chain solutions provider Xiamen Xiangyu New Energy Co.
He has also overseen the start of a resource definition drilling campaign at Salta and maiden drilling programs at the Eyre Peninsula kaolin-halloysite project and Santa Ines copper-gold project.
Mr Habib has extensive experience in management, sales and marketing, and investment markets, with a focus on emerging companies in the mineral resources sector.
He is currently an authorised representative of a Melbourne-based corporate advisory and capital funding company, and a non-executive director of Equinox Resources (ASX: EQN).
Responsibilities and key terms
As managing director, Mr Habib will be responsible for the overseeing Power’s day-to-day operations and its stakeholder interactions.
He will also lead the implementation of the company’s growth strategy across its project portfolio.
Key terms of the appointment will include a salary increase from $200,000 to $240,000 per annum (exclusive of superannuation) and eligibility for the employee share scheme once it is finalised.
Termination of the managing director agreement by either party can be made with six months notice.
Technical advisor role
Dr Lindsay’s role as technical advisor will utilise his past experience in the development of lithium-brine projects in Argentina to help expedite Power’s strategy at Salta.
Dr Lindsay is a qualified geologist and mining executive and consultant with more than 39 years’ industry experience.
He has held technical and commercial roles in the exploration and development of lithium, copper, gold and silver projects in Australia and South America (specifically Argentina, Chile and Peru), and has worked with companies from their inception to public listing, development and subsequent acquisition.
Dr Lindsay has vast experience as a director of ASX-listed mineral resources companies including Lake and Manuka Resources (ASX: MKR).
In his role as Lake technical director, he was key in the exploration and development of the company’s flagship Kachi lithium-brine project in Argentina.
Responsibilities included management of Kachi’s feasibility study program; the assessment of different DLE technologies; environmental and social impact studies; and requisite permitting and approvals.
Valuable appointments
Power non-executive chairman Stephen Ross said the appointment of Mr Habib and Dr Lindsay would be valuable to Salta’s development.
“It is important that we have the right mix of people to help meet our goals and ambitions at Salta,” he said.
“Mr Habib’s commitment to advancing our project portfolio and delivering shareholder value has been exceptional, and Dr Lindsay has hands-on experience and expertise in developing a major emerging lithium project in the region … will be invaluable as we forge ahead with plans to maximise the commercial outcomes at Salta.”