True North Copper managing director Marty Costello has stepped down as managing director but will remain on the board as executive director business development.
Ian McAleese will also leave his role as non-executive chairman to become executive chairman during this time.
True North Copper said it is actively seeking to recruit a new managing director and an appointment will be announced within the next month.
When the new managing director commences in the role, McAleese will revert to his role as non-executive chairman.
“On behalf of the board I wish to thank Marty for his tireless work and enthusiasm as the founder of True North Copper by leading the company which is now primed to become Australia’s next copper producer,” McAleese said.
Costello, along with former True North Copper chief financial officer Jaime Morton, founded True North Copper in July 2021.
The company is currently focused on developing the Cloncurry project and the Mount Oxide project, both located in north-west Queensland.
The March 2024 quarter saw the company sign two agreements with Glencore to support the development of the Cloncurry project. It also completed the Cloncurry project mining restart study, paving the way for mining to recommence at the site in the future.
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