Hastings Technology Metals has announced that its interim chief executive officer (CEO) Alwyn Vorster will not extend his contract beyond July 31.
Vorster was appointed in the new role of interim CEO in November 2022 in order to strengthen the leadership team and organisational structure as Hastings moved into the development phase of the Yangibana rare earths project.
In his role, Vorster oversaw a review of the project delivery and funding model. He chose not to extend his contract to focus mainly on his non-executive roles in the industry.
Chief operating officer Rudolph van Niekerk will continue to oversee the project in Vorster’s absense. A formal search process for a permanent CEO is now underway.
“Alwyn joined the Hastings team to bring his project development experience to the Yangibana Project and ensure the delivery of this world class project remains on track as we navigate the current inflationary environment,” Hastings executive chairman Charles Lew said.
“The Hastings board would like to recognise his positive contribution over the past seven months, including building a strong management team and repositioning the project for a lower capital and lower risk construction and commissioning phase as we work towards our goal of first rare earth concentrate production in Q1 2025.”