Latrobe Magnesium Limited (ASX: LMG) announced significant changes to its executive leadership and management structure today, 23 July 2026, with long-standing CEO David Paterson set to retire. Concurrently, the company has appointed Robert Stein as the new Chief Executive Officer and Peter Mizera as the independent Chairman of its Construction and Completions Committee. Latrobe Magnesium Limited is developing a magnesium metal Demonstration Plant in Victoria’s Latrobe Valley, utilising a patented extraction process to produce magnesium metal and other materials from industrial ash, a waste resource from brown coal power generation.
Mr Paterson, a founder and director, will retire on 30 September 2026, concluding two decades of service. The Board expressed its gratitude for his sustained commitment and energy, particularly in bringing the company’s unique Hydromet process to operational status and achieving magnesium oxide production. Mr Paterson will continue to be available as a consultant to the company. Succeeding him, Mr Stein will commence his role as CEO in October 2026, bringing a robust background as a chemical engineer with an MBA from Melbourne Business School.
Mr Stein’s extensive experience spans over 20 years in the resources sector, encompassing technical, financial, and commercial capacities across various mineral value chains. His career includes nearly a decade at BHP, where he contributed to key portfolio initiatives and strategy formulation, and as Group Manager for strategy, planning, and evaluation at MMG. Most recently, he led Macquarie Group’s Resources Research franchise, covering the Australian mining and metals sector.
Furthermore, the Board has appointed Mr Peter Mizera to chair the Construction and Completions Committee. Mr Mizera, an accomplished mechanical engineer and experienced resource project developer, will monitor and advise on capital works completion, having delivered numerous notable resource operating plants globally, including for Newcrest Mining and MMG Limited, ensuring their completion on time and on budget.
