Lodestar Minerals (ASX:LSR) has appointed two experienced technical leaders to streamline the company’s downstream go-to-market strategy for the Virgin Mountain Project in Arizona to strengthen the US rare earths and magnets supply chain.
The newly appointed roles will focus on business development, building downstream strategies for heavy rare earths production, and commercial pathways for magnet production.
The company has appointed MP Materials’ (NYSE:MP) former Director of Product Development Andy Martinez as Lodestar’s Lead Technical Consultant for the magnets, separation technology, and downstream process activities.
In his time with MP, Martinez developed and led new product and process prototyping plans, as well as leading the design and building of a pilot line and several laboratories for rare earth magnets prototyping and testing.
“Virgin Mountain is a unique deposit due to its heavy rare earths as well as neodymium and praseodymium, which are all highly sought after for defence, magnets, and high tech industry,” Martinez says.
Lodestar has also appointed former Business Development Manager for Lynas Rare Earths (ASX:LYC) Dayo Odunade as the company’s new Strategic Consultant for Downstream Business Development.
Odunade led a number of initiatives during his time at Lynas in areas including strategy development and execution, contracting and procurement, supply chain, and project management.
“I am excited to be contributing to the development and execution of strategies aimed at delivering substantial value to Lodestar Minerals and its shareholders, particularly in downstream business development,” Odunade says.
“I look forward to working closely with key stakeholders to help shape Lodestar’s US heavy rare earth strategy and support the creation of a resilient and efficient supply chain.”
Chairman Ross Taylor describes both appointments as bringing “exceptional experience in developing tier-one rare earth assets with MP Materials and Lynas Rare Earths respectively”.
“Their insights will strengthen Lodestar’s strategic and technical capability as we advance our recently acquired Virgin Mountain Heavy Rare Earths Project in Arizona,” Taylor says.
“With Andy and Dayo’s expertise, Lodestar is well positioned in the effort to capture growing demand for a secure and more resilient critical minerals supply chain.”
As reported by Mining.com.au, Lodestar recently expanded its footprint into Arizona by acquiring privately held Arizona Mountain Passage Heavy Rare Earths for Virgin Mountain claims.
Write to Maddison Elliott at Mining.com.au
Images: iStock
