Latrobe Magnesium (ASX: LMG) is set for leadership change with Robert Stein stepping in as CEO from October 2026, while Peter Mizera takes charge of the Construction Committee, underpinning the company’s push towards magnesium metal production.
- David Paterson retires after 20 years as CEO
- Robert Stein appointed CEO with extensive resources sector experience
- Peter Mizera named Chairman of Construction Committee
- Hydromet process advances Demonstration Plant commissioning
- Plans for Commercial and International Mega Plants continue
Leadership Transition Marks New Chapter for LMG
Latrobe Magnesium Limited (ASX:LMG) is preparing for a significant management reshuffle as founder and long-serving CEO David Paterson announces his retirement effective 30 September 2026. Paterson’s two decades at the helm have been pivotal in bringing the company’s patented Hydromet process to operational status, enabling the production of magnesium oxide from industrial ash.
Stepping into the CEO role from October 2026 is Robert Stein, a chemical engineer with an MBA from Melbourne Business School. Stein brings over 20 years of diverse experience in the resources sector, including senior strategic roles at BHP and MMG, and most recently as Head of Macquarie Group's Resources Research. His background spans technical, financial, and commercial domains, positioning him well to navigate LMG’s transition from demonstration to commercial-scale magnesium production.
Strengthening Construction Oversight with Industry Veteran
Complementing the CEO appointment, LMG has named Peter Mizera as the independent Chairman of its Construction and Completions Committee. Mizera is a seasoned mechanical engineer and resource project developer with a track record of delivering major resource plants on time and on budget, including leadership roles at Newcrest Mining and MMG. His oversight will be critical as LMG finalises the commissioning of its Demonstration Plant and prepares for the upcoming Commercial Plant.
Progress on Magnesium Production and Expansion Plans
The company’s Demonstration Plant in Victoria’s Latrobe Valley has completed its first half and is producing sustained magnesium oxide and other saleable by-products, with full commissioning expected in the latter half of 2026. LMG’s innovative Hydromet process, which recycles brown coal power generation ash, remains central to its ESG credentials by promoting a circular economy and reducing CO2 emissions.
Looking ahead, LMG plans a Commercial Plant with a 10,000 tonne per annum magnesium metal capacity, strategically located in Victoria’s coal power precinct to leverage existing feedstock and infrastructure. Additionally, the company is advancing its International ‘Mega’ Plant in Sarawak, Malaysia, targeting 100,000 tonnes per annum production using ferronickel slag, with pre-feasibility studies underway.
LMG’s magnesium products are poised to meet growing demand in automotive, aerospace, medical, and electronics sectors due to magnesium’s superior strength-to-weight ratio. The leadership changes come at a critical juncture as the company moves from demonstration to commercialisation phases.
Bottom Line?
New leadership and strengthened construction oversight position LMG for its next growth phase amid ongoing project milestones.
Questions in the middle?
- How will Robert Stein’s strategic experience influence LMG’s commercial ramp-up?
- What impact will Peter Mizera’s construction oversight have on project timelines and budgets?
- How will LMG balance scaling production with maintaining its ESG commitments?