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2026-11-06
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Arafura Rare Earths Limited

Construction · Rare Earths · AU Rating locked: sign in to view v8.1 · aru-20261031t202835-full
Last 2026-11-06
A$0.145
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1M
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A$880.8M
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A$885.2M
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People, delivery and responsibility

Management background checks

Evidence through 2026-11-02

Research assessment

Executive team

Rating locked: sign in to viewTeam rating and score are available to subscribers

At the 2 November 2026 cutoff, Arafura's management team combines project, operating, finance, corporate-affairs and legal leadership relevant to the Nolans rare-earth project. The company reached FID in May 2026 and reported early access/mobilisation, procurement activity and a first construction contract during the September quarter. These are issuer-reported company milestones at the start of a multi-year build; no production has begun and individual delivery is not yet separately demonstrated. Prior project experience is most directly supported for Tommie van der Walt, whom Arafura credits with on-schedule Ahafo delivery, although that claim is issuer-reported and the reported project cost differs across issuer biographies. Angela Bigg's CFO role became effective 31 August, after a July employment start; her former Diavik tenure overlaps a regulator-reported corporate safety plea and a fully contained water leak, with no personal responsibility established. Darryl Cuzzubbo's former SolGold employment dispute includes allegations recorded by the Fair Work Commission; the Commission did not assess the merits and the parties later settled. Most current biography evidence is issuer-reported, exact career dates remain incomplete, and the focused adverse searches are not exhaustive.

Decision-relevant facts

Material summary

Individual involvement and employer context shown separately

Darryl Cuzzubbo

Managing Director and Chief Executive Officer

Current
Full background report for Darryl Cuzzubbo
Company SuccessIssuer Reported · Medium materiality

Nolans entered early construction after FID

Arafura reported FID in May 2026 and described early site access and mobilisation in the quarter ended 30 September; its 30 October report states that a first construction contract had been awarded. Cuzzubbo's September-quarter CEO statement describes the transition from planning to delivery and the work ahead. This is a company-reported milestone at an early stage, not evidence of completed construction, commissioning or production, and no individual contribution is quantified.

Role overlaps event; causation unproven · Cuzzubbo was CEO and his statement is directly quoted, but construction progress is a company-level outcome and the filing does not quantify his individual causal contribution.

Arafura Rare Earths 2026 Annual Report · Project development and final investment decision
Quarterly Activities Report and Appendix 5B for period ending 30 September 2026 · Page 1; construction/mobilisation highlights and CEO statement
Quarterly Activities Report and Appendix 5B for period ending 30 September 2026 · Page 3; first contract, site enabling and procurement
LegalDocumented · Medium materiality

FWC accepted unchallenged testimony about the CEO urging the CFO to resign

The Fair Work Commission decision records that former CFO Ayten Saridas gave evidence, unchallenged on this aspect and accepted by the Commission, that on 9 August 2022 Cuzzubbo told her the Board wanted her to leave and that it would be easier if she resigned; the decision also records her account that she objected to being made a scapegoat for the unsuccessful capital raising and her criticism of the Board. The Commission described the capital-raising cause as contested, and dismissed the application as out of time; it did not determine the underlying general-protections claim on its merits. In February 2025 SolGold announced a settlement, said it no longer contended serious misconduct, and stated that the parties agreed Cuzzubbo's views about company operations differed from the Board; SolGold's 2025 annual report records a A$950,000 payment. The accepted evidence of the conversation is distinct from a finding of statutory wrongdoing; the settlement and payment also do not establish the truth of the disputed underlying claims.

Individual involvement documented · The FWC accepted Saridas's unchallenged evidence of the conversation; it did not decide the underlying general-protections claim on its merits. The later settlement is not an admission and does not establish statutory wrongdoing.

Ayten Saridas v SolGold PLC [2023] FWC 289 · Pages 2–4, paragraphs 15–23; contested capital-raise cause and accepted unchallenged account of 9 August conversation
Ayten Saridas v SolGold PLC [2023] FWC 289 · Decision concluding section; merits assessment was not made and the out-of-time application was dismissed
SolGold announces settlement of Cuzzubbo proceedings · Settlement announcement; SolGold no longer contends serious misconduct and parties' agreed description
SolGold Annual Report 2025 · Page 50; settlement deed payment
Evidence gaps · 4
  • Older role chronology at BHP and Orica lacks exact dates and independent corroboration.
  • The SolGold employment dispute settled after an FWC procedural decision; the underlying factual allegations were not determined on the merits.
  • Open-web adverse-record searches were focused and limited, not exhaustive; no clearance is implied.
  • Current Nolans construction outcomes remain early and are company-level; no individual CEO delivery contribution is quantified.

Full background report

Darryl Cuzzubbo

Managing Director and Chief Executive Officer

Career chronology

Education and qualifications

Engineering and management qualifications reported by issuer

By 2026-11-02 · issuer reported · low materiality

Arafura reports a Bachelor of Engineering (Mechanical, Honours 1), Master of Science in Total Quality Management and MBA. These are issuer-reported credentials; no independent university or professional-register verification was performed.

Attribution: Responsibility not applicable. Education is reported in the issuer biography; independent credential verification was not performed.

Relevance: Relevant to oversight of a major engineering and project-development business.

Darryl Cuzzubbo profile (Qualifications)

Contributions and company outcomes

Nolans entered early construction after FID

May–September 2026; reported 2026-10-30 · issuer reported · medium materiality

Arafura reported FID in May 2026 and described early site access and mobilisation in the quarter ended 30 September; its 30 October report states that a first construction contract had been awarded. Cuzzubbo's September-quarter CEO statement describes the transition from planning to delivery and the work ahead. This is a company-reported milestone at an early stage, not evidence of completed construction, commissioning or production, and no individual contribution is quantified.

Attribution: Role overlaps event; causation unproven. Cuzzubbo was CEO and his statement is directly quoted, but construction progress is a company-level outcome and the filing does not quantify his individual causal contribution.

Relevance: Relevant to delivery of the company's flagship project; early progress must not be confused with operating delivery.

Arafura Rare Earths 2026 Annual Report (Project development and final investment decision); Quarterly Activities Report and Appendix 5B for period ending 30 September 2026 (Page 1; construction/mobilisation highlights and CEO statement); Quarterly Activities Report and Appendix 5B for period ending 30 September 2026 (Page 3; first contract, site enabling and procurement)

Litigation and enforcement

FWC accepted unchallenged testimony about the CEO urging the CFO to resign

August 2022–February 2025 · documented · medium materiality

The Fair Work Commission decision records that former CFO Ayten Saridas gave evidence, unchallenged on this aspect and accepted by the Commission, that on 9 August 2022 Cuzzubbo told her the Board wanted her to leave and that it would be easier if she resigned; the decision also records her account that she objected to being made a scapegoat for the unsuccessful capital raising and her criticism of the Board. The Commission described the capital-raising cause as contested, and dismissed the application as out of time; it did not determine the underlying general-protections claim on its merits. In February 2025 SolGold announced a settlement, said it no longer contended serious misconduct, and stated that the parties agreed Cuzzubbo's views about company operations differed from the Board; SolGold's 2025 annual report records a A$950,000 payment. The accepted evidence of the conversation is distinct from a finding of statutory wrongdoing; the settlement and payment also do not establish the truth of the disputed underlying claims.

Attribution: Individual involvement documented. The FWC accepted Saridas's unchallenged evidence of the conversation; it did not decide the underlying general-protections claim on its merits. The later settlement is not an admission and does not establish statutory wrongdoing.

Relevance: Relevant to executive conflict, governance and legal-risk assessment; the procedural outcome and settlement must be distinguished from an adverse merits judgment.

Ayten Saridas v SolGold PLC [2023] FWC 289 (Pages 2–4, paragraphs 15–23; contested capital-raise cause and accepted unchallenged account of 9 August conversation); Ayten Saridas v SolGold PLC [2023] FWC 289 (Decision concluding section; merits assessment was not made and the out-of-time application was dismissed); SolGold announces settlement of Cuzzubbo proceedings (Settlement announcement; SolGold no longer contends serious misconduct and parties' agreed description); SolGold Annual Report 2025 (Page 50; settlement deed payment)

Suitability for the current role

Relevant large-project and executive experience, with current project delivery still early

Current to 2026-11-02 · analyst inference · medium materiality

Issuer biographies describe 24 years at BHP, including three years as President of Olympic Dam, senior Orica roles and subsequent CEO experience. Arafura made its Nolans final investment decision in May 2026 and reported early access/site-mobilisation activity and the first construction contract during the September quarter. This experience is relevant to the CEO role, but current construction is at an early stage and the company report does not assign a particular outcome to Cuzzubbo individually.

Attribution: Responsibility not applicable. This is an analyst assessment of role fit, not a finding of individual causation for company outcomes.

Relevance: Relevant to CEO leadership of an integrated rare-earth project moving from development into construction.

Darryl Cuzzubbo profile (Experience and qualifications); Arafura Rare Earths 2026 Annual Report (Project/FID and management sections); Quarterly Activities Report and Appendix 5B for period ending 30 September 2026 (Pages 1 and 3; early construction and first contract)

Evidence gaps

  • Older role chronology at BHP and Orica lacks exact dates and independent corroboration.

  • The SolGold employment dispute settled after an FWC procedural decision; the underlying factual allegations were not determined on the merits.

  • Open-web adverse-record searches were focused and limited, not exhaustive; no clearance is implied.

  • Current Nolans construction outcomes remain early and are company-level; no individual CEO delivery contribution is quantified.

Angela Bigg

Chief Financial Officer

Current
Full background report for Angela Bigg
SafetyDocumented · Medium materiality

Diavik corporate safety plea overlapped Bigg's tenure; no personal link established

The Northwest Territories and Nunavut safety regulator reported that Diavik Diamond Mines Inc. pleaded guilty to an offence related to a worker seriously injured by rock in November 2020 and was fined. The release also describes charges against the corporation and certain site roles; it does not identify Bigg as charged or personally responsible. She held senior Diavik finance/operations roles during the broader period, including VP Finance, but the event is recorded as employer/role-overlap context only.

Role overlaps event; causation unproven · The regulator release identifies the corporate plea and site-level proceedings, not Bigg. No personal causal or supervisory responsibility is established.

Diavik Diamond Mines guilty plea and fine following 2020 rock incident · Regulator release; 16 November 2020 incident and corporate plea/fine
First female president appointed for Diavik Diamond Mine · Career; Diavik finance and operations roles
Evidence gaps · 5
  • The 8 July CFO announcement PDF was recovered through the issuer/ASX document gateway after the metadata API did not return a usable file; the downloaded ASX PDF identifier is 03108979 and the cited source was read.
  • No reliable education or professional-membership evidence was located in the reviewed primary sources.
  • A 2023 injury event at Diavik was reported in secondary news but no primary court/regulator source was reviewed, so it is excluded from material findings.
  • Diavik employer events overlap senior roles but do not establish personal responsibility; no comprehensive litigation or adverse-record check was performed.
  • Arafura CFO tenure at cutoff was about two months, too short for an audited personal delivery assessment.

Full background report

Angela Bigg

Chief Financial Officer

Career chronology

Industrial safety

Diavik corporate safety plea overlapped Bigg's tenure; no personal link established

2020 incident; corporate plea reported 2022-12-06 · documented · medium materiality

The Northwest Territories and Nunavut safety regulator reported that Diavik Diamond Mines Inc. pleaded guilty to an offence related to a worker seriously injured by rock in November 2020 and was fined. The release also describes charges against the corporation and certain site roles; it does not identify Bigg as charged or personally responsible. She held senior Diavik finance/operations roles during the broader period, including VP Finance, but the event is recorded as employer/role-overlap context only.

Attribution: Role overlaps event; causation unproven. The regulator release identifies the corporate plea and site-level proceedings, not Bigg. No personal causal or supervisory responsibility is established.

Relevance: Relevant only as safety-governance context from a former employer during her senior tenure; it is not a personal safety finding.

Diavik Diamond Mines guilty plea and fine following 2020 rock incident (Regulator release; 16 November 2020 incident and corporate plea/fine); First female president appointed for Diavik Diamond Mine (Career; Diavik finance and operations roles)

Environmental record

Diavik reported a contained mine-water pipeline leak during Bigg's President/COO tenure

February–March 2023 · documented · low materiality

GNWT reported a February 2023 pipeline leak of approximately 450,000 cubic metres of mine-impacted water into Diavik's containment pond. The government said the water was fully contained and no release to the environment occurred; it required repairs and said the company's response was appropriate. Bigg was then President/COO. The event is role-overlap context and does not establish personal responsibility or an environmental enforcement finding against her.

Attribution: Role overlaps event; causation unproven. The government describes a company infrastructure incident and response; it does not attribute personal cause or breach to Bigg.

Relevance: Relevant as limited environmental-control context during her former employer tenure; the containment outcome and lack of personal attribution are material.

Large spill within Diavik containment pond, no release to environment (GNWT release; volume, containment, no environmental release and response); First female president appointed for Diavik Diamond Mine (President/COO tenure)

Suitability for the current role

Finance and mine-operations experience is relevant to the CFO role

2021–2026 · analyst inference · medium materiality

Rio Tinto describes Bigg's progression through Diavik finance and operations roles before becoming President/COO, and Arafura appointed her CFO effective 31 August 2026. This is relevant cross-functional experience, but the appointment is recent and no post-appointment audited finance outcome is yet attributable to her.

Attribution: Responsibility not applicable. This is a role-fit assessment; it makes no claim about personal responsibility for employer incidents.

Relevance: Relevant to project-finance, controls and construction-readiness responsibilities at Arafura.

First female president appointed for Diavik Diamond Mine (Career and President/COO role); Chief Financial Officer Transition (Page 1; CFO effective date); Arafura Rare Earths 2026 Annual Report (Leadership transition and company finance context)

Evidence gaps

  • The 8 July CFO announcement PDF was recovered through the issuer/ASX document gateway after the metadata API did not return a usable file; the downloaded ASX PDF identifier is 03108979 and the cited source was read.

  • No reliable education or professional-membership evidence was located in the reviewed primary sources.

  • A 2023 injury event at Diavik was reported in secondary news but no primary court/regulator source was reviewed, so it is excluded from material findings.

  • Diavik employer events overlap senior roles but do not establish personal responsibility; no comprehensive litigation or adverse-record check was performed.

  • Arafura CFO tenure at cutoff was about two months, too short for an audited personal delivery assessment.

Tommie van der Walt

Chief Projects Officer

Current
Full background report for Tommie van der Walt
Personal SuccessIssuer Reported · Medium materiality

Arafura credits him with on-schedule delivery leadership at Ahafo

Arafura describes van der Walt as Newmont's Africa Regional Project Director and credits him with delivery of the US$1.7 billion Ahafo project on schedule. Ionic's 2023 appointment announcement describes the project cost differently (US$2 billion). The achievement and cost are issuer-reported; the differing cost figures are preserved rather than reconciled, and no independent project-delivery audit was reviewed.

Individual involvement documented · The issuer biographies directly credit him with project leadership and on-schedule delivery; no independent attribution or cost reconciliation was found.

Tommie van der Walt profile · Biography; Newmont/Ahafo project leadership and stated cost
Update on Project Leadership · Page 1; Ahafo delivery claim
Ionic Rare Earths appoints Tommie van der Walt as Chief Operating Officer · Page 1; Ahafo project cost stated as US$2 billion
Role FitAnalyst Inference · Medium materiality

Project-construction experience fits Arafura's current stage; delivery remains in progress

The appointment notice and profile identify van der Walt's remit and prior projects. Arafura's September 2026 quarterly report says early access/mobilisation and engineering/procurement work were underway and the first construction contract was awarded. Construction remains at an early stage; the report does not quantify a personal contribution or establish completed project delivery.

Responsibility not applicable · This is an analytical fit assessment; it does not assign company progress or future delivery to him individually.

Update on Project Leadership · Page 1; appointment and project experience
Quarterly Activities Report and Appendix 5B for period ending 30 September 2026 · Pages 1 and 3; early construction, first contract and procurement
Evidence gaps · 5
  • Career dates before Arafura are approximate or undisclosed, and issuer biographies provide the main support for Newmont/Ahafo achievement.
  • Arafura and Ionic describe the Ahafo project value differently (US$1.7bn and US$2bn); the cost conflict is not resolved here.
  • The EPBC report's signed declaration is not independent evidence that every condition was met; no personal adverse environmental finding was identified.
  • Nolans project delivery remains early-stage and company-reported; individual CPO contribution is not separately quantified.
  • No exhaustive criminal, sanctions, litigation or regulatory-record search was performed.

Full background report

Tommie van der Walt

Chief Projects Officer

Career chronology

Education and qualifications

Engineering, business and project-management qualifications reported

By 2025-01-20 · issuer reported · low materiality

Arafura and Ionic report a Bachelor of Engineering (Mechanical), master's-level business/management qualification and PhD in business administration, as well as professional engineering registration. The Ionic appointment notice specifies qualifications including BEng from Pretoria, MSc business management from Cape Town and PhD business administration from North West University. These are issuer disclosures and were not independently verified.

Attribution: Responsibility not applicable. Credentials are reported in company appointment materials; independent registration and university checks were not performed.

Relevance: Relevant to technical and project leadership.

Tommie van der Walt profile (Qualifications); Ionic Rare Earths appoints Tommie van der Walt as Chief Operating Officer (Qualifications and institutions)

Personal achievements

Arafura credits him with on-schedule delivery leadership at Ahafo

Prior Newmont tenure; recounted by Arafura in 2024–2026 · issuer reported · medium materiality

Arafura describes van der Walt as Newmont's Africa Regional Project Director and credits him with delivery of the US$1.7 billion Ahafo project on schedule. Ionic's 2023 appointment announcement describes the project cost differently (US$2 billion). The achievement and cost are issuer-reported; the differing cost figures are preserved rather than reconciled, and no independent project-delivery audit was reviewed.

Attribution: Individual involvement documented. The issuer biographies directly credit him with project leadership and on-schedule delivery; no independent attribution or cost reconciliation was found.

Relevance: Relevant prior project-delivery evidence for a Chief Projects Officer leading a large rare-earth construction project.

Tommie van der Walt profile (Biography; Newmont/Ahafo project leadership and stated cost); Update on Project Leadership (Page 1; Ahafo delivery claim); Ionic Rare Earths appoints Tommie van der Walt as Chief Operating Officer (Page 1; Ahafo project cost stated as US$2 billion)

Suitability for the current role

Project-construction experience fits Arafura's current stage; delivery remains in progress

2025-01-20 to cutoff; early construction reported 2026-10-30 · analyst inference · medium materiality

The appointment notice and profile identify van der Walt's remit and prior projects. Arafura's September 2026 quarterly report says early access/mobilisation and engineering/procurement work were underway and the first construction contract was awarded. Construction remains at an early stage; the report does not quantify a personal contribution or establish completed project delivery.

Attribution: Responsibility not applicable. This is an analytical fit assessment; it does not assign company progress or future delivery to him individually.

Relevance: Directly relevant to the CPO remit and Nolans execution risk.

Update on Project Leadership (Page 1; appointment and project experience); Quarterly Activities Report and Appendix 5B for period ending 30 September 2026 (Pages 1 and 3; early construction, first contract and procurement)

Evidence gaps

  • Career dates before Arafura are approximate or undisclosed, and issuer biographies provide the main support for Newmont/Ahafo achievement.

  • Arafura and Ionic describe the Ahafo project value differently (US$1.7bn and US$2bn); the cost conflict is not resolved here.

  • The EPBC report's signed declaration is not independent evidence that every condition was met; no personal adverse environmental finding was identified.

  • Nolans project delivery remains early-stage and company-reported; individual CPO contribution is not separately quantified.

  • No exhaustive criminal, sanctions, litigation or regulatory-record search was performed.

Jane Macey

Chief Operating Officer

Current
Full background report for Jane Macey
Role FitAnalyst Inference · Medium materiality

Mining operations and project experience is relevant; COO tenure is still short

Arafura reports over 20 years across Tier 1 mining, including BHP, Rio Tinto, Fortescue, Roy Hill and OZ Minerals, with senior operational and project roles. The company appointed Macey COO in January 2026. Arafura was in early construction by the September 2026 quarter; these company milestones overlap her tenure but are not individually attributed, and the source bases are principally issuer biographies.

Responsibility not applicable · This is an analyst role-fit judgment and does not attribute construction outcomes or prior employer results personally.

Arafura Rare Earths Investor Presentation · Page 28; background, appointment and roles
Evidence gaps · 4
  • Career chronology and exact commencement dates for prior roles are not publicly detailed in the reviewed primary sources.
  • The Genesis profile page was inaccessible; current board membership is supported only by Arafura's May 2026 issuer presentation.
  • The reviewed search scope did not locate person-specific adverse findings; it is not an exhaustive clearance.
  • Current Arafura tenure is under one year and no individual operational outcome is separately quantified.

Full background report

Jane Macey

Chief Operating Officer

Career chronology

  • Appointed January 2026; exact effective day not disclosed: Arafura Rare Earths Limited — Chief Operating Officer. Arafura Rare Earths Investor Presentation (Page 28; COO appointment)

  • Issuer presentation describes more than 20 years across Tier 1 mining; specific role dates are not disclosed: BHP, OZ Minerals, Rio Tinto, Fortescue and Roy Hill — Senior operations, engineering and project roles. Arafura Rare Earths Investor Presentation (Page 28; career summary)

  • Listed by Arafura as a current NED in May 2026 presentation; appointment date not stated in the source reviewed: Genesis Minerals — Non-executive director. Arafura Rare Earths Investor Presentation (Page 28; current external board role)

Education and qualifications

Engineering qualification and company-director training reported

By 2026-05-22 · issuer reported · low materiality

Arafura's presentation reports a Bachelor of Engineering and Graduate of the Australian Institute of Company Directors credential. Independent verification was not performed.

Attribution: Responsibility not applicable. Qualifications are issuer-reported and not independently verified.

Relevance: Relevant to operational and project oversight responsibilities.

Arafura Rare Earths Investor Presentation (Page 28; qualifications)

Suitability for the current role

Mining operations and project experience is relevant; COO tenure is still short

January–November 2026 · analyst inference · medium materiality

Arafura reports over 20 years across Tier 1 mining, including BHP, Rio Tinto, Fortescue, Roy Hill and OZ Minerals, with senior operational and project roles. The company appointed Macey COO in January 2026. Arafura was in early construction by the September 2026 quarter; these company milestones overlap her tenure but are not individually attributed, and the source bases are principally issuer biographies.

Attribution: Responsibility not applicable. This is an analyst role-fit judgment and does not attribute construction outcomes or prior employer results personally.

Relevance: Relevant to operations-readiness and execution at a development-stage rare-earth project.

Arafura Rare Earths Investor Presentation (Page 28; background, appointment and roles); Quarterly Activities Report and Appendix 5B for period ending 30 September 2026 (Pages 1 and 3; early construction status)

Evidence gaps

  • Career chronology and exact commencement dates for prior roles are not publicly detailed in the reviewed primary sources.

  • The Genesis profile page was inaccessible; current board membership is supported only by Arafura's May 2026 issuer presentation.

  • The reviewed search scope did not locate person-specific adverse findings; it is not an exhaustive clearance.

  • Current Arafura tenure is under one year and no individual operational outcome is separately quantified.

Penelope Stonier

Chief Corporate Affairs Officer

Current
Full background report for Penelope Stonier
Role FitAnalyst Inference · Medium materiality

Capital-markets and corporate-affairs background is relevant; individual financing credit is not established

Arafura describes Stonier's background in CBA senior roles, more than ten years at Fortescue, investor relations and corporate affairs, and responsibility for capital-management strategy through May 2022. Arafura's August 2025 financing update names her as a contact, not as the person who led or secured the financing. Her current corporate-affairs role is relevant, but no financing result is personally attributed in the reviewed sources.

Responsibility not applicable · This is an analytical role-fit assessment; the issuer's financing achievements are not attributed to Stonier absent direct evidence.

Arafura Rare Earths Investor Presentation · Page 28; career summary and qualifications
Update on Export Finance Australia support · Investor contact block; no personal financing attribution
Evidence gaps · 4
  • Issuer biographies do not provide a complete role-by-role career chronology or exact Fortescue/CBA appointment dates.
  • Qualifications and past capital-management responsibilities are issuer-reported, with no independent credential or transaction attribution review.
  • The August 2025 export-finance update identifies Stonier as investor contact only; it does not establish her responsibility for financing outcomes.
  • Logged adverse-record searches are limited and are not a clearance.

Full background report

Penelope Stonier

Chief Corporate Affairs Officer

Career chronology

Education and qualifications

Postgraduate business and mineral-economics qualifications reported

By 2026-05-22 · issuer reported · low materiality

Arafura reports an MBA and a Master of Science in Mineral Economics. These credentials are issuer-reported and were not independently verified.

Attribution: Responsibility not applicable. Education is reported by the issuer; independent verification was not performed.

Relevance: Relevant to investor, financing and corporate-affairs work.

Arafura Rare Earths Investor Presentation (Page 28; qualifications)

Suitability for the current role

Capital-markets and corporate-affairs background is relevant; individual financing credit is not established

2022–2026 · analyst inference · medium materiality

Arafura describes Stonier's background in CBA senior roles, more than ten years at Fortescue, investor relations and corporate affairs, and responsibility for capital-management strategy through May 2022. Arafura's August 2025 financing update names her as a contact, not as the person who led or secured the financing. Her current corporate-affairs role is relevant, but no financing result is personally attributed in the reviewed sources.

Attribution: Responsibility not applicable. This is an analytical role-fit assessment; the issuer's financing achievements are not attributed to Stonier absent direct evidence.

Relevance: Relevant to corporate affairs, investor communications and funding coordination.

Arafura Rare Earths Investor Presentation (Page 28; career summary and qualifications); Update on Export Finance Australia support (Investor contact block; no personal financing attribution); Quarterly Activities Report and Appendix 5B for period ending 30 September 2026 (Page 2; current corporate-affairs role)

Evidence gaps

  • Issuer biographies do not provide a complete role-by-role career chronology or exact Fortescue/CBA appointment dates.

  • Qualifications and past capital-management responsibilities are issuer-reported, with no independent credential or transaction attribution review.

  • The August 2025 export-finance update identifies Stonier as investor contact only; it does not establish her responsibility for financing outcomes.

  • Logged adverse-record searches are limited and are not a clearance.

Annaliese Eames

General Counsel and Company Secretary

Current
Full background report for Annaliese Eames
Role FitAnalyst Inference · Medium materiality

Legal, commercial and company-secretarial experience is relevant; Arafura tenure is very recent

Arafura's October 2026 appointment notice describes more than 20 years of legal, commercial, strategic and governance experience, including ASM, BHP, Epiroc, Barminco and AMEC. ASM's appointment release confirms a prior General Counsel/Joint Company Secretary role and managing-counsel experience at BHP. This background fits the current legal and governance remit, but her Arafura appointment began only 22 October, so no Arafura outcome is yet attributable.

Responsibility not applicable · This is a role-fit assessment, not an allegation or a finding about governance outcomes.

Appointment of Chair and Company Secretary Change · Page 1; experience and current appointment
Appointment of General Counsel and Joint Company Secretary · Page 1; ASM appointment and BHP background
Evidence gaps · 4
  • Arafura tenure is very recent; the report assesses role fit rather than delivery outcomes.
  • Exact dates and titles for several roles before ASM are not disclosed.
  • Education and experience are based on company disclosures, not independent credential or employment-reference checks.
  • Adverse-record searches were focused and limited; no clearance is implied.

Full background report

Annaliese Eames

General Counsel and Company Secretary

Career chronology

Education and qualifications

Law degree reported in prior-company annual report

By 2023-09-29 · issuer reported · low materiality

ASM's 2023 annual report lists Eames as LLB (Law), General Counsel and Joint Company Secretary. This is a company disclosure; independent university verification was not performed.

Attribution: Responsibility not applicable. The qualification is issuer-reported and not independently verified.

Relevance: Relevant to the current general-counsel and company-secretary roles.

Australian Strategic Materials Annual Financial Report 2023 (Corporate directory / KMP disclosure; LLB (Law))

Suitability for the current role

Legal, commercial and company-secretarial experience is relevant; Arafura tenure is very recent

2023–2026 · analyst inference · medium materiality

Arafura's October 2026 appointment notice describes more than 20 years of legal, commercial, strategic and governance experience, including ASM, BHP, Epiroc, Barminco and AMEC. ASM's appointment release confirms a prior General Counsel/Joint Company Secretary role and managing-counsel experience at BHP. This background fits the current legal and governance remit, but her Arafura appointment began only 22 October, so no Arafura outcome is yet attributable.

Attribution: Responsibility not applicable. This is a role-fit assessment, not an allegation or a finding about governance outcomes.

Relevance: Relevant to legal oversight, disclosure and company-secretarial execution.

Appointment of Chair and Company Secretary Change (Page 1; experience and current appointment); Appointment of General Counsel and Joint Company Secretary (Page 1; ASM appointment and BHP background); Australian Strategic Materials Annual Financial Report 2023 (Corporate directory; LLB and role)

Evidence gaps

  • Arafura tenure is very recent; the report assesses role fit rather than delivery outcomes.

  • Exact dates and titles for several roles before ASM are not disclosed.

  • Education and experience are based on company disclosures, not independent credential or employment-reference checks.

  • Adverse-record searches were focused and limited; no clearance is implied.