Cornish Lithium appoints Adam Howard and John Raymond as non-executive directors
Cornish Lithium, the pioneering company aiming to open Britain's first lithium mine in the county, has announced the appointment of Adam Howard and John Raymond to its board as non-executive directors - joining as representatives of the UK Infrastructure Bank and The Energy and Minerals Group respectively.
Derek Linfield stepped down from the board with effect from November 30.
Linfield played a major role in developing the resource company since August 2016 and was instrumental in negotiating and structuring its mineral rights portfolio.
The company's chairman Ian Cockerill said: "I am pleased to welcome Adam Howard and John Raymond to our Board as representatives of our new shareholders following the landmark investment package secured by Cornish Lithium in August.
"The board will benefit from their significant experience of both the minerals sector and capital markets, and I look forward to working with them as we develop our exciting portfolio of projects to create value for our stakeholders."
In a statement, Cockerill also thanked Linfield for his work initially as chairman and latterly as a non-executive director.
"Derek was instrumental in the early years of Cornish Lithium working with Jeremy Wrathall to structure the key mineral rights agreements that have proved key to the company’s success over the last seven years. I look forward to continued engagement with Derek as a significant shareholder of the company," he said.
Howard is a director of banking and investments at the UK Infrastructure Bank (UKIB) and before that he spent over 15 years working in the energy and infrastructure sectors at EBRD, ING Barings and Lloyds Bank, with a focus on direct equity and capital markets.
Meanwhile, Raymond is the co-founder and co-CEO of The Energy & Minerals Group (EMG) - a leading diversified natural resources-focused private equity firm.
He is responsible for directing strategic and investment activities of EMG and managing its investment portfolio and day-to-day activities with co-founder and co-CEO John Calvert.
In August this year, the company revealed it had secured a £53.6 million funding package from institutional investors UKIB, EMG and TechMet.
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