The Core Lithium Ltd (ASX: CXO) share price is rising on Thursday.
In early trade, the lithium miner's shares are up almost 2% to 11.7 cents.
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Why is the Core Lithium share price on the move?
Investors have been buying the miner's shares today in response to news that it has appointed a former Rio Tinto Ltd (ASX: RIO) boss to its board.
According to the release, Alicia Sherwood will become a non-executive director effective 1 December 2024.
The release notes that Ms Sherwood brings over 25 years of experience across the private, public, and not-for-profit sectors, with a strong focus on stakeholder management, governance, and leadership.
In addition, Sherwood has a proven track record of building and driving collaborations between businesses, governments, communities, and Indigenous organisations to deliver mutually beneficial outcomes.
Core Lithium also highlights that its new director has extensive ESG credentials, which are demonstrated through her previous role as general manager of Communities and Social Performance for Rio Tinto's Aluminium Pacific Operations.
In this capacity, Sherwood was responsible for implementing a comprehensive Community and Social Performance (CSP) strategy across multiple jurisdictions in Australia and New Zealand. The release highlights that her leadership in cultural heritage management, land access agreements, community investment, and regional development initiatives is widely recognised.
This is a big positive for a miner that is exploring for metals and minerals. In fact, management believes Sherwood's deep connections with Northern Territory stakeholders further enhances her strategic value.
Though, it is worth noting that she isn't new to Core Lithium. Sherwood's most recent role was as general manager of the company's Finniss Lithium Mine. In that role, she was responsible for the day-to-day mining operations and stakeholder engagement. This means the new director has an intimate knowledge of its mining operations and the risks and opportunities of working in the Northern Territory.
'Invaluable'
Core Lithium's chair, Greg English, was very pleased with the appointment. He said:
We are delighted to welcome Alicia to the Board. Alicia's knowledge of Core's mining activities and her deep expertise in ESG, coupled with her strong relationships within the Northern Territory and extensive experience in managing stakeholder relationships, will be invaluable as we continue to focus on sustainable growth and governance excellence. Alicia's appointment strengthens Core's ongoing commitment to mining in the Northern Territory while also aligning with best corporate governance practices.
Sherwood appears ready for the challenge. She commented:
I look forward to joining Core and contributing the insights I have gained from my time leading the Finniss Lithium Mine and my diverse experiences working with the government and other stakeholders in the Northern Territory.
