Ironveld names Martin Eales as CEO

Mining outfit Ironveld tapped Martin Eales to take over as chief executive on Friday, taking over from Dr Peter Cox on 16 December.

Eales will bring "significant industry experience" to Ironveld, joining the group from Rainbow Rare Earths where he acted as chief executive between 2014 and 2019 and oversaw the development of the company into the only rare earths producer in Africa.

Prior to that, Eales was a managing director at RBC Capital Markets with a strong track record advising natural resource companies on fundraisings and other corporate transactions.

Dr Cox will become a technical director at Ironveld, focusing on matters relating to the future smelting operations and offtake partners.

Chairman Giles Clarke said: "I am very pleased to welcome Martin to the company and to the board of Ironveld.

"His strong sector knowledge and experience supporting and leading companies to deliver their growth plans will be invaluable in guiding Ironveld through the next phase of its development."

As of 1330 GMT, Ironveld shares had shot up 10.34% to 0.80p.