Latin Resources Limited (ASX: LRS) ("Latin" or "the Company"), Australian-based mineral exploration company, is thrilled to announce the appointment of Mr. Peter Oliver as Executive Director and Chairman of the Development Committee, effective immediately. This strategic move is aimed at fast-tracking the Salinas Lithium Project towards production, marking a significant milestone in the Company's journey to becoming a global Tier one lithium producer.
Mr. Oliver, who has been a valuable member of the Latin Resources Board as a Non-Executive Director since October 2022, is renowned for his extensive experience and profound expertise in the lithium industry. With a career spanning over two decades, Mr. Oliver has played pivotal roles in global mergers and acquisitions, financing, and the operational management of mining ventures. His most notable tenure was as the Chief Executive Officer / Managing Director of Talison Lithium, which operates the largest lithium mine globally, Greenbushes, in Western Australia.
With a solid foundation in Chemistry and a deep understanding of the Western Australian Mining industry, Mr. Oliver has been instrumental in driving growth and expansion. His leadership at Talison Lithium led to a successful IPO, listing on the Toronto Stock Exchange, and significant operational expansions, culminating in the acquisition by Tianqi Lithium. As an advisor to Tianqi Lithium, Mr. Oliver oversaw major expansions in lithium concentrate production at Greenbushes and played a key role in establishing the Kwinana Lithium Hydroxide plant.
Mr. Oliver's appointment is a testament to Latin Resources' commitment to advancing the Salinas Lithium Project in Brazil's Minas Gerais, a region known for its mining-friendly environment. The project boasts a Global Mineral Resource Estimate at its Colina Lithium Deposit of 70.3Mt @ 1.3% Li2O, with a Preliminary Economic Assessment indicating robust economics for a proposed 3.6Mtpa standalone mining and processing operation, showcasing an after-tax NPV8% of A$3.6 billion (US$2.5 billion) and an impressive after-tax IRR of 132%.
Latin Resources is poised to make a significant impact on the global lithium market, addressing the increasing demand for battery metals. Mr. Oliver's unparalleled experience and leadership are expected to be instrumental in propelling the Company towards achieving its strategic objectives and establishing its position as a key player in the lithium sector.
Latin Resources Managing Director, Chris Gale, commented:
“I am extremely pleased that Peter has decided to take an active role in the development of our Salinas Lithium project in Brazil. Peter brings a wealth of lithium development experience having been the key person to develop the world’s largest lithium spodumene mine, Greenbushes. We are now confident, with Peters vast lithium knowledge and expertise, we can take the next steps of being a lithium developer to becoming a lithium producer in 2026“.
Peter Oliver commented:
“Since I joined Latin Resources, we have proved that the Salinas project is without doubt exceptional. As we are now progressing to the development phase, Chris is assembling a world class development team that I am confident will move us to the next phase, that of being a major global producer. As an executive director and Chair of the development committee, I look forward to working with Chris to assist him in building the team, complete the DFS and bring Salinas into production. Undoubtedly an exciting time ahead.”
About us:
Latin Resources Limited (ASX: LRS) is an Australian-based mineral exploration company, with projects in South America and Australia, that is developing mineral projects in commodities that progress global efforts towards Net Zero emissions.
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Jane Morgan