Arafura Rare Earths has announced that long-serving chief financial officer Peter Sherrington will step down after nearly 18 years with the company, effective from August 31.
Angela Bigg has been appointed the new CFO and will join Arafura on July 13, while Sherrington will remain with the company until October 31 to support a structured handover as Arafura prepares for construction of its Nolans rare earths project.
The company credited Sherrington with playing a key role in developing the financial and strategic foundations that enabled the project to progress.
“Despite persistent challenges presented by the concentrated and controlled rare earths sector, Peter has demonstrated unwavering commitment, resilience and strategic leadership,” Arafura managing director Darryl Cuzzubbo said.
“Of particular significance was the successful execution of a complex and disciplined funding strategy that enabled the company to continue advancing its development objectives.”
Stepping into the new role, Bigg brings more than 20 years of experience in the global mining sector, with expertise spanning major resource projects, corporate finance and executive operational roles across multiple jurisdictions.
According to Arafura, her experience makes her well-placed to lead the company safely through its next stage of development.
Arafura chair Mark Southey thanked Sherrington for his service.
“Peter has dedicated nearly two decades to the company and has led with integrity, resilience and a steadfast belief in the quality of our project and our people,” he said.
“Few executives remain committed through an entire commodity cycle, let alone through the many challenges associated with financing and developing a globally significant project.
“On behalf of the Board, I extend our sincere appreciation to Peter for his outstanding service, commitment and enduring belief in the company’s vision. He leaves the company with our deepest gratitude and with a legacy that will continue to underpin the company’s future success.”
Read more: How Arafura’s Nolans project became absolutely critical
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