{"id":79188,"date":"2024-04-22T20:17:05","date_gmt":"2024-04-22T20:17:05","guid":{"rendered":"https:\/\/pakistaninewspaperlist.com\/news\/critical-metals-appoints-tony-sage-as-chief-executive-officer\/"},"modified":"2024-04-22T20:17:05","modified_gmt":"2024-04-22T20:17:05","slug":"critical-metals-appoints-tony-sage-as-chief-executive-officer","status":"publish","type":"post","link":"https:\/\/pakistaninewspaperlist.com\/news\/critical-metals-appoints-tony-sage-as-chief-executive-officer\/","title":{"rendered":"Critical Metals Appoints Tony Sage as Chief Executive Officer"},"content":{"rendered":"
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Dietrich Wanke named President of European Operations to operationalize the Wolfsberg Lithium Project, a cornerstone asset for Europe\u2019s electric vehicle industry<\/em><\/p>\n

Joint Venture with the Obeikan Investment Group to build and operate a battery-grade lithium hydroxide plant in Saudi Arabia expected to be finalized in the next months<\/em><\/p>\n

Critical Metals will conduct two new definitive feasibility studies (DFS) for the Wolfsberg Project and the lithium hydroxide plant<\/em>\u00a0 \u00a0 \u00a0 \u00a0\u00a0<\/p>\n

NEW YORK, April 22, 2024 (GLOBE NEWSWIRE) — Critical Metals Corp. (Nasdaq: CRML) (\u201cCritical Metals\u201d), a leading mining company focused on critical metals and minerals for the green energy transition, today announced the appointment of Tony Sage as its Chief Executive Officer. Mr. Sage will continue in his role as Chairman of the Board and the current CEO, Dietrich Wanke has been named the Company\u2019s President of European Operations to operationalize the Wolfsberg Project.<\/p>\n

These strategic appointments will better support the development and future operations of Critical Metals\u2019 flagship asset in Europe, the Wolfsberg Lithium Project, and open up additional opportunities for Critical Metals. Mr. Wanke\u2019s new role enables him to focus entirely on overseeing the Wolfsburg Project operations and advancing the mine\u2019s development and future production. The Company is aiming to operationalize its lithium spodumene concentrator in Wolfsberg, which will be the next significant source of lithium spodumene for European lithium-ion battery market, by 2027.<\/p>\n

As CEO and Chairman of the Board, Mr. Sage will oversee corporate strategy and commercial development for the Wolfsberg Lithium Project, and he will focus on evaluating additional strategic assets in the critical metals space to be brought under the Company\u2019s banner.<\/p>\n

\u201cCritical Metals is at a pivotal juncture in our growth trajectory and development strategy following our recent listing on Nasdaq earlier this year,\u201d said Mr. Sage. \u201cThis strategic transition of roles will better position us for future success both in Wolfsberg and more broadly. Dietrich is a seasoned operator in the mining industry, and both he and our Board came to the mutual decision that he is well suited for having oversight of the Wolfsberg Project. This will enable him to dedicate all of his time to operationalizing this foundational asset to Europe\u2019s lithium-ion battery supply chain. With Dietrich leading our operations in Europe, I look forward to focusing my efforts on the Company\u2019s broader strategy, overseeing engagement with our customers, advancing our plans in Saudi Arabia, and evaluating additional strategic assets.\u201d<\/p>\n

\u201cI am very pleased to head up our operations in Europe. This change will allow me to focus on advancing operations in what we expect to be the next significant producer of lithium products for the clean energy transition,\u201d said Mr. Wanke. \u201cI look forward to working more closely with our teams on the ground, the local government and community as we support local jobs and a greener future for our planet.\u201d<\/p>\n

Projects Update<\/strong><\/p>\n

As part of its development strategy, Critical Metals has a binding agreement with the Obeikan Group to jointly develop and operate a lithium hydroxide plant in Saudi Arabia. The lithium spodumene concentrator will provide the feedstock for the hydroxide plant to be processed into battery-grade lithium to supply BMW, the global automotive powerhouse. Critical Metals expects the joint venture to be finalized over the next months.<\/p>\n

To reflect both the Wolfsberg and lithium hydroxide assets, Critical Metals will conduct two new definitive feasibility studies (DFS) for the projects. The Company expects the DFSs to be completed this year. Critical Metals has engaged four of the largest engineering groups in the world to provide proposals to conduct the study.<\/p>\n

About Critical Metals Corp.<\/strong><\/p>\n

Critical Metals (Nasdaq: CRML) is a leading mining company focused on mining critical metals and minerals, and producing strategic products essential to electrification and next generation technologies for Europe and its partners. Its initial flagship asset is the Wolfsberg Lithium Project\u00a0located in Carinthia, 270 km south of Vienna, Austria.\u00a0The Wolfsberg Lithium Project is the first fully permitted mine in Europe and is strategically located with access to established road and rail infrastructure to\u00a0become the next major producer of key lithium products to support the growing demand for electric vehicles (EVs) and Europe\u2019s burgeoning lithium-ion battery supply chain.\u00a0In addition, Critical Metals owns a 20% interest in prospective Austrian mineral projects\u00a0previously held by European Lithium Ltd (ASX: EUR).\u00a0<\/p>\n

For more information, please visit\u00a0https:\/\/criticalmetalscorp.com\/<\/a>.<\/p>\n

Cautionary Note Regarding Forward-Looking Statements<\/strong>\u00a0<\/p>\n

This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the \u201cExchange Act\u201d). Forward-looking statements include, without limitation, statements regarding the financial position, financial performance, business strategy, expectations of our business and the plans and objectives of management for future operations, including as they relate to the Wolfsburg Project. These statements constitute projections, forecasts and forward-looking statements, and are not guarantees of performance. Such statements can be identified by the fact that they do not relate strictly to historical or current facts. When used in this news release, forward-looking statements may be identified by the use of words such as \u201cestimate,\u201d \u201cplan,\u201d \u201cproject,\u201d \u201cforecast,\u201d \u201cintend,\u201d \u201cwill,\u201d \u201cexpect,\u201d \u201canticipate,\u201d \u201cbelieve,\u201d \u201cseek,\u201d \u201ctarget,\u201d \u201cdesigned to\u201d or other similar expressions that predict or indicate future events or trends or that are not statements of historical facts. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements.<\/p>\n

These forward-looking statements may include statements, among other things, relating to:<\/p>\n