Solaris Resources has appointed Matthew Rowlinson, former head of copper at Glencore, as its new CEO, effective January 1. Rowlinson, who spent 11 years at Glencore, brings extensive merger and acquisition experience to Solaris as the company advances plans to move its headquarters to Zug, Switzerland. The move is part of an effort to avoid national security reviews that derailed a C$130 million deal with China’s Zijin Mining earlier this year.
The relocation, coupled with significant board changes, underscores Solaris’ commitment to expanding its operationsand focusing on its flagship Warintza project in Ecuador. The company also plans to spin out non-core assets, including the La Verde, Capricho, and Paco Orco copper projects, into a new company.
“This is a pivotal moment for Solaris,” said Richard Warke, Solaris’ executive chair, highlighting the company’s focus on advancing permitting and construction for Warintza, which is expected to be one of the last major copper districts developed at low elevation and near infrastructure.
The shift to Switzerland is seen as a strategic decision to mitigate political risks, following Canada’s earlier security review of Chinese investments. Despite the shift, Solaris’ stock market listings and tax obligations will remain unaffected. Solaris shares rose by 1.2% to C$4.29 on Thursday, bringing the company’s market value to C$711.5 million.
In addition to Rowlinson, Rodrigo Borja, an experienced Ecuadorian lawyer, and Hans Wick, a financial services expert, have joined the company’s board. This strategic restructuring is aimed at positioning Solaris for growth and enhancing its copper portfolio, particularly at its La Verde project in Mexico and its Capricho and Paco Orco projects in Peru.