Core Lithium founder Stephen Biggins quits company he launched
One of the people pivotal to the success of Core Lithium has made a stunning decision announced via the stock market.
Northern Territory
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A week after the official opening of Core’s Finniss lithium mine 90km south of Darwin, company founder Stephen Biggins has resigned as managing director.
The shock move was announced via the Australian Stock Exchange this morning.
It will take effect immediately.
It was Mr Biggins’ vision that drove Core’s entry into the Territory and follows his surprise resignation as chief executive in March.
Asked last week why he stepped aside from the chief executive job he said “it was about the right people at the right time”.
After an extensive search former Tito executive Gareth Manderson replaced Mr Biggins as Core Lithium chief executive in August.
In a statement to the stock exchange, Core said Mr Biggins’ resignation would take immediate effect.
Mr Biggins said last week’s mine opening provided the trigger for his decision to walk away from Core.
“The Finniss Lithium Mine official opening was the culmination of 12 years of rewarding dedication to achieve this rare milestone and I feel that now is the right time to step down as managing director,” he said.
“I want to take this opportunity to thank the Board, management, employees and shareholders of Core as well as the stakeholders in the successful Finniss Project both in the NT and around the globe for their support over the years.
“Now is the ideal opportunity to hand over the leadership to Gareth as he has settled
in to the role as CEO. The business is now in great shape, the financial performance
is strong, and at the Finniss Lithium Project, we have built a platform for sustainable
growth for many years to come.”
In the statement, Core’s board acknowledged Mr Biggins’ “remarkable service” to the company as managing director and his valuable contribution towards the growth and development of Core.
Company Chairman Greg English said Mr Biggins had left a significant, long-lasting legacy that has set-up Core for strong earnings growth.
“On behalf of the Core team, I would like to thank Stephen for his outstanding contribution to the company and we wish him well in his other ventures,” Mr English said.
Mr Biggins began staking out the future Finniss lithium site in 2016 and the speed at which production began at the prospect was considered to be remarkably fast by the industry.
Mines Minister Nicole Manison thanked Mr Biggins.
“I’d like to acknowledge the role Stephen Biggins played in getting the Northern Territory to the historic moment of opening our first lithium mine last week.,” she said.
“I thank him for his hard work in driving this crucial project, and wish him well in his future endeavours.”
At last week’s official mine opening, Manison described the project as a “huge achievement”.
“Core Lithium is the first lithium mine for the Northern Territory,” she said.
“We have worked hard as the Northern Territory Government in partnership with Core Lithium to deliver this mine in under five years. That is a huge achievement.
“We know right now they have got 12 years of mining life but Core Lithium are very optimistic about the future that they will be able to significantly extend that mining life because they have an ambitious exploration program that will be kicking off next year to go out and find new lithium.”
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