© Reuters. Australian Potash appoints experienced natural resources finance executive as CFO

Australian Potash Ltd (ASX:APC) has been appointed experienced natural resources finance executive Patrick Leung as chief financial officer.

The new CFO brings extensive experience to the company from a 20-year career in banking focused primarily on the natural resources sector and replaces Scott Nicholas in the role.

Leung’s most recent role was as director, Investments (Resources and WA), for the Northern Australia Infrastructure Facility (NAIF).

Extensive banking experience

APC managing director & CEO Matt Shackleton said: “As APC seeks to finalize the last critical phase of pre-development – ​​the development funding program – we are delighted to welcome Patrick to the highly competent and experienced APC team.

“Patrick’s extensive banking experience and understanding of the resources sector will be invaluable to our shareholders as we work to complete the debt and equity funding arrangements for the development of the Lake Wells Sulphate of Potash Project.”

Familiar with Lake Wells

Shackleton said: “Patrick is already familiar with the Lake Wells Project from his time at NAIF and he will play a pivotal role in building on our existing relationships with NAIF and Export Finance Australia and forging new partnerships into the existing syndicated debt facility.”

Leung has held similar roles with Bankwest and Westpac, including six years as director, Natural Resources, with Westpac Institutional Bank. He has also held CFO and M&A roles within the private equity sector and GE Real Estate.

He holds a Bachelor of Commerce from Curtin University, an MBA from the University of Western Australia, a post-graduate Diploma of Applied Finance (Corporate Finance) and is a Certified Practicing Accountant.

“On behalf of the board and management team, I extend my thanks to Scott Nicholas for his contribution to the company over the past four years and wish him all the best in his future endeavours,” added Shackleton.

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