Latrobe Magnesium Names Industry Expert Robert Stein as CEO Amid Founder David Paterson’s Retirement

David Paterson’s Two-Decade Leadership and Retirement Transition

David Paterson, founder, director, and CEO of Latrobe Magnesium, will step down on 30 September 2026, concluding nearly 20 years at the company’s helm. The board acknowledged Paterson’s unwavering dedication and energy in advancing LMG’s proprietary Hydromet process—a world-first patented magnesium extraction technology—to operational status. The board noted that without Paterson’s commitment, the Hydromet process would not have reached the demonstrated production stage of magnesium oxide.

To maintain continuity, the board has accepted Paterson’s offer to remain available as a consultant upon request by management and the board. This arrangement ensures access to his extensive institutional knowledge during a pivotal phase of company growth. His retirement timing aligns with LMG’s progress toward full commissioning of its Demonstration Plant, facilitating a smooth leadership handover.

Robert Stein’s CEO Appointment and Extensive Resources Sector Expertise

Robert Stein will assume the role of CEO at Latrobe Magnesium starting October 2026. A qualified chemical engineer with an MBA from Melbourne Business School, Stein brings over 20 years of diverse experience in the resources sector. His expertise spans technical, financial, and commercial roles across ferrous, base, and critical minerals value chains—skills highly relevant to LMG’s magnesium production operations.

Stein’s career includes nearly a decade at BHP, contributing to capital allocation and portfolio strategy initiatives. At MMG Limited, he held Group Manager-level roles overseeing strategy, planning, and evaluation. Most recently, he led Macquarie Group’s Resources Research franchise, covering the Australian mining and metals sector and gaining deep insight into how equity investors evaluate and fund growth-focused resources companies. This investor-centric perspective will be valuable as LMG scales operations and seeks capital for its Commercial and International plants.

Peter Mizera Strengthens Project Delivery Oversight

Peter Mizera has been appointed independent Chairman of the Board’s Construction and Completions Committee, tasked with monitoring and advising on capital works completion and new project delivery. Mizera is an accomplished mechanical engineer and resource project developer with a proven track record of delivering major resource plants in Australia and globally, emphasizing on-time and on-budget completion.

His recent roles include General Manager Project Delivery at Newcrest Mining and prior leadership at MMG Limited. With LMG’s Demonstration Plant targeting full commissioning in H2 2026 and plans for a 10,000 tonnes per annum Commercial Plant in the Latrobe Valley, Mizera’s expertise will provide critical oversight during these key construction phases, ensuring disciplined project execution.

Hydromet Process and Magnesium Oxide Production Milestone

Latrobe Magnesium is advancing a Demonstration Plant in Victoria’s Latrobe Valley utilizing its patented Hydromet extraction process. The company extracts magnesium metal, cementitious materials, and other products from industrial ash—a waste byproduct of brown coal power generation—embracing a circular economy model that converts waste into valuable feedstock aligned with ESG best practices.

The Demonstration Plant’s first half has been completed, producing sustained magnesium oxide and other saleable by-products. Full commissioning is anticipated in the second half of 2026. This milestone validates the Hydromet process at demonstration scale, supporting LMG’s trajectory toward commercial-scale production and larger facility development.

Commercial Plant Plans with 10,000 Tonnes Annual Capacity

LMG plans to build a Commercial Plant capable of producing 10,000 tonnes per annum of refined magnesium metal in Victoria’s coal power generation precinct. This location offers strategic advantages, including access to industrial ash feedstock, existing infrastructure, and skilled labor, optimizing operational economics and facilitating scale-up from the Demonstration Plant.

The company has secured long-term sales agreements with U.S.-based distributors for the planned production volume, establishing a solid commercial foundation and reducing market risk. These partnerships underscore confidence in magnesium demand and LMG’s supply capabilities.

International Expansion: Sarawak Mega Plant and Pre-Feasibility Progress

Beyond Australia, Latrobe Magnesium is developing an International Mega Plant in Sarawak, Malaysia, targeting 100,000 tonnes per annum magnesium metal production via its wholly owned subsidiary Latrobe Magnesium Sarawak Sdn Bhd. The company has completed the first phase (PFS-A) of a pre-feasibility study utilizing Ferronickel Slag feedstock, distinct from the brown coal ash used in Victoria.

This Malaysian project represents a major growth opportunity, with capacity ten times that of the Australian Commercial Plant. Completion of the initial pre-feasibility phase advances the project toward detailed engineering and development. This international expansion diversifies LMG’s geographic and feedstock base, mitigating reliance on a single region or waste source and reflecting management’s confidence in significant medium- to long-term magnesium market demand.

Magnesium Applications and Industry Demand Drivers

Magnesium’s superior strength-to-weight ratio makes it highly sought after in automotive, aerospace, medical, and electronics industries, which are experiencing continuous innovation. Its lightweight nature supports industry trends toward vehicle weight reduction for improved fuel efficiency and enhanced aerospace performance. Additionally, magnesium’s corrosion resistance benefits medical devices and electronics manufacturing.

Demand spans established automotive suppliers and growing electric vehicle and advanced aerospace sectors. LMG’s long-term contracts with U.S. distributors reflect strong commercial confidence in sustained or expanding magnesium demand. Stein’s investor-focused background aligns with the company’s strategic shift toward capital market engagement and scaling operations.

ESG Commitment and Circular Economy Alignment

Latrobe Magnesium’s projects exemplify ESG best practices by recycling power plant waste tailings, avoiding landfill, and fostering circular economy principles. The operations feature low CO2 emissions due to feedstock sourcing and production methods, appealing to institutional investors and customers committed to decarbonization and waste reduction.

This circular economy approach—extracting magnesium and by-products from waste rather than mining primary ore—differentiates LMG in the resources sector. As global regulatory and customer focus on carbon emissions intensifies, LMG’s sustainable production model offers competitive advantages in securing contracts and attracting investment. Stein’s experience at Macquarie Group’s Resources Research, where ESG factors influence capital allocation, further supports this positioning.

2026 Timeline and Critical Operational Milestones

Key upcoming milestones include David Paterson’s retirement on 30 September 2026, providing a three-month transition following the announcement on 23 July 2026. Robert Stein will begin as CEO in October 2026, allowing for overlap and knowledge transfer. Full commissioning of the Demonstration Plant is targeted for the second half of 2026, aiming for completion by year-end.

This concentration of operational and leadership milestones marks a significant transition for LMG. Successful Demonstration Plant commissioning alongside the CEO handover is vital to maintain momentum and investor confidence. The appointment of Peter Mizera to oversee project delivery further mitigates execution risks during this period.

Ensuring Strategic and Management Continuity Amid Leadership Change

The combination of Robert Stein’s CEO appointment, David Paterson’s continued availability as consultant, and Peter Mizera’s role in project oversight reflects the board’s strategy to preserve continuity during leadership transition. Paterson’s two decades have guided LMG from inception to demonstration-scale magnesium oxide production, and his ongoing consultancy ensures institutional knowledge transfer.

Stein’s leadership signals a shift toward investor engagement and commercial focus as LMG moves from technology development to commercial operations and capital market activities. Mizera’s addition strengthens project delivery governance. Together, these appointments demonstrate the board’s commitment to balancing continuity with strategic evolution appropriate for LMG’s growth stage.