Critical minerals project developer Arafura Rare Earths has appointed Darryl Cuzzubbo as MD and CEO, following the departure of Gavin Lockyer.
The appointment takes effect immediately and Lockyer will depart after a short handover, the company said on Monday.
Cuzzubbo joined the Arafura board as a nonexecutive director in November 2021, and in September last year, was engaged to provide management support services to the company.
Cuzzubbo has more than 30 years of experience in the industry. For 24 years, he was with BHP, where his scope of responsibilities included managing multiple complex operations, such as Olympic Dam and large explosive plants across more than 20 countries.
“This transition reflects the board’s absolute focus on delivering and commissioning the Nolans project, as the company’s efforts to secure key off-take agreements and debt financing head towards a conclusion,” said chairperson Mark Southey.
Lockyer has been with Arafura for more than 17 years, the majority of those as MD. During that period, he progressed the company from being an explorer to a project-ready organisation, achieving a number of critical financial and approvals goals.
Southey praised the contribution of Lockyer in securing Arafura’s international standing as the next major rare earths producer, with capacity to add substantial neodymium and praseodymium production into strategically important supply chains.