Charles Fitzroy
Rainmakers & Potstirrers

Charles Fitzroy

CEO: Giyani Metals

www.giyanimetals.com

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‘The demo plant is crucial in the company's mission to become a dominant producer of high-purity battery-grade manganese'

IT'S been musical chairs at Giyani Metals, the Toronto-listed manganese business. Starting with the departure of CEO Robin Birchall in October 2022, it has suffered major management churn. Danny Keating, appointed CEO in April 2023, left the company’s board after being replaced by current CEO and president, Charles FitzRoy in September. The latest changes began in May 2024 when then chair Jonathan Henry and three other directors “retired” from the board. In stepped Mark Burnett, initially as interim chair. If it suggests a coordinated campaign, it would be fitting: both Burnett and FitzRoy served in the British military. 

On a more serious note, the sooner stability can be installed, the better for Giyani as its ambition to become an 80,000 tons a year supplier of specialist product high-purity manganese sulphate monohydrate (HPMSM) is a long-term one. There’s no certainty manganese will out-compete other mineral formulations when the most commercial mineral mix for lithium-ion battery is decided. In addition, the rate of consumer adoption of battery electric vehicles, which HPMSM will supply, has been slower than expected.

 A demonstration plant, partly financed with $16m from the Industrial Development Corporation, has been built. Once proven, the technology will be built with scale in mind at Giyani’s recently permitted K (Kgwakwe) Hill project in southern Botswana. FitzRoy is targeting a definitive feasibility study and project financing this year. A $281m capital cost was scoped for the project in 2022 when Birchall was still Giyani CEO.

LIFE OF CHARLES

Previously CEO of lithium explorer and developer Bradda Head Lithium, FitzRoy is a geologist with an MSc in metals and energy finance. Interestingly, he also brings investment and finance experience, having held positions at Citi, the bank, and BlackRock as well as Arden Partners and, most intriguingly of all, CMOC, the Chinese group. It's worth pointing out that China controls 96% of manganese sulphate supply. FitzRoy served nearly five years in the British military in the Household Cavalry in Kenya and Afghanistan. He was previously head of Giyani's corporate development and strategy.

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