The company has appointed Mark Warren as its executive chairman while managing director Terry Butler-Blaxell has stepped down with immediate effect.
Warren has over 30 years of global experience in advisory, executive and technical roles in mining and metals businesses.
This includes significant experience in smelting and pyrometallurgical operations.
He joined the company in September as its non-executive chairman.
Butler-Blaxell founded Hazelwood in 2006 and led the company through the acquisition and assessment of its base metal and tungsten projects.
In 2009, he identified the opportunity to construct a downstream refining business in Vietnam and negotiated the ATC Ferrotungsten Joint Venture.
During 2013, the newly constructed ATC Ferrotungsten Project entered production and established itself as a producer of high quality ferrotungsten.
The plant has maximum production capacity in excess of 4,000 tonnes per annum and is believed to be the most advanced in the world.
"After nearly nine years here, I feel as though Hazelwood needs a new image and must embrace new talent to help transition the Company from being an emerging producer to becoming a leader in its chosen field," Butler-Blaxell said.
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