Critica’s CEO Appointment Signals Urgency Amid Rare Earths Development Race
Critica Limited has appointed Jacob Deysel as CEO to accelerate development of its Jupiter Rare Earth Project, signalling a strategic shift from exploration to production readiness. Deysel’s extensive global mining experience and rare earths expertise position the company for its next growth phase.
- Jacob Deysel appointed CEO effective 15 July 2025
- Over 25 years of global mining leadership including rare earths sector experience
- Focus on advancing Jupiter Rare Earth Project through scoping and feasibility studies
- CEO remuneration includes $360,000 salary plus 75 million performance-based options
- Non-Executive Directors to take share rights in lieu of fees pending shareholder approval
Leadership Change at a Pivotal Moment
Critica Limited has announced the appointment of Jacob Deysel as its new Chief Executive Officer, effective 15 July 2025. This move comes as the company aims to transition its Jupiter Rare Earth Project from exploration into development, a critical phase that demands seasoned leadership with deep industry expertise.
Deysel brings a formidable resume, boasting over 25 years in senior roles at globally recognised mining companies such as Mineral Commodities Ltd, Kenmare Resources, Rio Tinto, Newmont Corporation, and Uranium Energy Corp. His background uniquely blends technical mining knowledge with commercial acumen, particularly in rare earth elements (REE), graphite, and mineral sands.
Strategic Focus on Rare Earths Development
The Jupiter Rare Earth Project, located in Western Australia, represents Australia’s largest and highest-grade clay-hosted rare earths deposit. Under Deysel’s leadership, Critica plans to rapidly progress through key technical milestones including scoping and feasibility studies, which are essential steps toward establishing the project’s economic viability and attracting strategic partners.
Critica’s Chairman, Tim Lindley, emphasised the significance of Deysel’s appointment, highlighting his proven ability to lead multidisciplinary teams and secure critical offtake agreements and financing. This expertise is expected to accelerate the company’s evolution from a junior explorer into a globally significant supplier aligned with Western demand for critical minerals.
Incentives Aligned with Performance and Growth
Deysel’s CEO contract includes a fixed annual remuneration of $360,000, supplemented by a substantial equity incentive package of 75 million zero exercise price options. These options vest based on a combination of continuous service, delivery of technical milestones such as the scoping and pre-feasibility studies, and share price performance targets. This structure aligns the CEO’s rewards closely with the company’s operational progress and shareholder value creation.
Additionally, Non-Executive Directors Tim Lindley and Nick Cernotta have elected to receive share rights in lieu of cash fees, subject to shareholder approval, further aligning management and board interests with long-term company performance.
Looking Ahead, Unlocking Value and Expanding Assets
Beyond Jupiter, Deysel will oversee a strategic review of Critica’s Tasmanian assets at Mt Lindsay, one of the world’s largest undeveloped tin and tungsten projects. These critical minerals are increasingly vital amid constrained global supply chains, positioning Critica to diversify and strengthen its portfolio.
Incoming CEO Deysel expressed confidence in the project’s potential, citing its scale, grade, and strategic location between Geraldton and Mt Magnet as key advantages. His global network of investors, offtakers, and government stakeholders is expected to facilitate partnerships and funding necessary to advance Critica’s ambitions.
With the departure of Interim CEO Dr Stuart Owen coinciding with Deysel’s start, the company signals a clear intent to accelerate development and commercialisation efforts, setting the stage for a transformative period in its corporate journey.
Bottom Line?
Jacob Deysel’s appointment marks a decisive step toward unlocking Jupiter’s potential and positioning Critica as a key player in the global rare earths market.
Questions in the middle?
- How quickly can Critica deliver the scoping and pre-feasibility studies under the new leadership?
- What strategic partnerships or offtake agreements will Deysel secure to support project financing?
- How will the market respond to the CEO’s equity incentives and their performance conditions?
