Metallica cuts Sconi staff, including CEO
PERTH (miningweekly.com) – ASX-listed Metallica Minerals on Friday announced staff cuts, including the redundancy of CEO Gavin Becker, as part of its drive to lower costs.
Becker has agreed to move from his post as CEO, effective immediately, to a more flexible consulting arrangement as GM of the Sconi scandium project, in Queensland, ensuring the project and market knowledge were maintained.
Other Sconi staff were also made redundant this week; however, team members were being offered involvement in the project on a contractor or consultation basis.
The staff restructure followed Metallica’s July decision to defer the Sconi definitive feasibility study and to reduce nonessential project expenditure.
“Despite the ongoing weakness in current and expected market and business conditions, and the sustained difficulty to date in attracting sufficient project funding or strategic investor partnerships for Sconi, Becker and his team have considerably advanced the project to a point where it has high integrity in its feasibility, resource development potential and ability to produce substantial quantities of high purity scandia,” said Metallica MD Andrew Gillies.
He noted that it was essential that Metallica retained the experience of Becker, adding that both he and the company believed that the project could become the world’s largest scandium producer.
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