Errol Smart is to step down as MD and CEO of Orion Minerals with immediate effect.
Smart will be succeeded Anthony (Tony) Lennox, who has been a nonexecutive director of the company until now.
Orion said in a statement on Thursday that during his more than 12-year tenure as MD, Smart had made a significant contribution to Orion’s growth and development, including its acquisition of both the Prieska Copper Zinc Project and the Okiep Copper Project in the Northern Cape, and the subsequent advancement of both projects to the Definitive Feasibility Study (DFS) stage.
The group added that Lennox was a highly experienced operational leader with vast experience in the construction, development and operation of large-scale mining projects.
“Tony will work closely with the board and the executive team to maintain Orion’s existing strategic momentum and oversee its imminent transition from project developer to operating mining company. As a nonexecutive director over the past year, he has already provided valuable insights, particularly in technical and project-related aspects of the business,” Orion said.
Lennox brings more than 40 years of experience in mining operations, project development and corporate leadership and has a proven track record in managing large-scale, complex mining projects and has held executive leadership roles across multiple international jurisdictions.
He previously served as the MD of Palabora Mining Company, a significant underground copper mining operation in SA, which at the time was jointly owned by Rio Tinto and Anglo American.
“With the recent delivery of the feasibility studies at our flagship project, Prieska, and Okiep, Errol has decided now is an appropriate time for him to hand over the reins as the company moves into its next chapter as a mine developer and operator,” said Orion chair Denis Waddell.
“Errol has made an enormous contribution over a period of more than 12 years, helping to shape Orion’s evolution from an early-stage explorer and project acquirer, into a base metal mine developer that now holds a premium portfolio of shovel-ready copper projects in SA.”
Waddell added that Lennox’s time with Orion over the past year has enabled him to gain a strategic and deep understanding of what is necessary for the company and its stakeholders, and his expertise aligns perfectly with the company’s strategy to advance both Prieska and Okiep into production, while maintaining a strong commitment to sustainability and operational excellence.
“Tony’s plans will ensure a seamless leadership transition with first-hand focus on project execution, stakeholder engagement, and project funding. This focus will strengthen Orion’s path towards delivering its critical metals strategy,” said Smart.
“As a continuing shareholder I am certain that Orion is well set to unlock strong returns for all investors and stakeholders,” he said.
“Over the past year, I have had the opportunity to work closely with the Orion team on the completion and delivery of the Definitive Feasibility Studies for both Prieska and Okiep. This has given me substantial insights into the tremendous opportunity that lies in front of us — and I am looking forward to the challenge of leading the team though the construction and development phase, and forward into operations,” said Lennox.
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