First Tin PLC on Thursday said it has hired a new chief executive officer, taking effect in the new year.

The London-based tin development company focused on advanced, low-capital expenditure projects in Germany and Australia said Bill Scotting would replace Thomas Buenger on January 1, as Buenger is leaving the company to pursue a new business opportunity.

Buenger has also agreed to be available to the company after January 1 in order to assist Scotting and First Tin in its ongoing commercialisation of its two core assets, Taronga and Tellerhauser.

First Tin described Scotting as an ‘internationally experienced CEO and director who has over 35 years’ experience in leading global companies with extensive knowledge of the metals and mining industry’.

Scotting was previously CEO at zinc producer Nystar NV and CEO of ArcelorMittal SA’s mining division.

‘He has a proven track record in the metals and mining sector and the board is confident that he will bring expertise and energy to the role,’ said First Tin Chair Charlie Cannon-Brookes.

‘We have an exciting future ahead and I am confident that under Bill’s leadership, First Tin is best placed to continue making strong operational progress at both our Taronga and Tellerhauser assets, with the objective of becoming a material tin supplier in conflict-free, low political risk jurisdictions.

‘I would like to sincerely thank Thomas and acknowledge his significant contribution to First Tin since [initial public offering in April 2022].’

Shares in First Tin were up 2.3% to 4.50 pence each in London on Thursday afternoon.

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