Torngat Metals appoints new CEO
Canadian rare earth development company Torngat Metals has appointed Michael McCann CEO, with effect from October 13.
The company states that he joins the company at a pivotal stage in the development of its Strange Lake project, in Quebec, following the completion of an updated feasibility study demonstrating technical and economic viability and with environmental impact assessment work also nearing completion after years of engineering, environmental and stakeholder engagement efforts.
Torngat notes that McCann has more than 30 years of executive experience in the mining industry and a strong record of leading complex operations across Canada, including in Quebec and Newfoundland and Labrador.
He joins the company following an accomplished tenure as president and CEO of the Iron Ore Company of Canada, where he led one of the country’s largest integrated mining, rail and port operations.
Maryse Bélanger, who has served as interim CEO and chairperson will work closely with McCann to ensure a seamless handover. Following the transition, she will continue in her role as chairperson of the company.
“On behalf of the board, I am delighted to welcome Michael to Torngat. Michael is a highly respected mining leader with deep operational experience and a strong commitment to safety, people and partnerships. His experience building teams and leading complex integrated operations will be invaluable as we pursue the next phase of development of the Strange Lake project.
“At a time when secure and responsible rare earth supply is becoming increasingly important to Canada and its allies, Michael’s leadership will continue to position Torngat to pursue the opportunities ahead. His record working with governments, Indigenous communities and local stakeholders will also be an important asset as the project advances through its next stages of development,” Bélanger comments.
McCann, meanwhile, says he is excited to join the company at such an important time for the global rare earths industry.
“What attracted me to Torngat is the opportunity to contribute to a project of strategic importance for Quebec, Newfoundland and Labrador and Canada. Demand for secure and responsibly produced rare earth elements (REEs) continues to grow, creating new opportunities for projects that can help strengthen supply chains.
“I am excited about the opportunity to collaborate with the outstanding technical and customer partners the company has already established with global leaders such as Carester in France. Throughout my career, I have believed that strong performance begins with an unwavering commitment to health and safety, respect for people, partnerships and collaboration with stakeholders. I look forward to working with the talented Torngat team, Indigenous communities, governments and local communities as we build the next stage together.”
Torngat points out that Western governments and industries are keen to secure REEs such as the dysprosium, terbium, neodymium, praseodymium, yttrium, samarium and gadolinium that the Strange Lake project is uniquely positioned to supply at scale.