KEY POINTS
- Mike Ralston has resigned as Blencowe Resources CEO.
- He will remain as a full-time consultant until year-end.
- COO Iain Wearing will lead the Orom-Cross project during the transition.
Mike Ralston has stepped down as chief executive officer of London-listed Blencowe Resources, with immediate effect, as the company continues efforts to secure funding and advance its Orom-Cross graphite project in Uganda.
Ralston will remain closely involved with the company on a full-time consultancy basis until his planned retirement at the end of 2026. His continued involvement is expected to support the transition to new leadership and ensure that key development activities at Orom-Cross remain on track.
Blencowe said Ralston will continue working on several important areas of the business, including the ongoing Phase 1 funding process for the Orom-Cross project.
His consultancy role is also intended to provide continuity while the company searches for his replacement.
Blencowe has already begun identifying potential candidates for senior executive leadership and said it is in discussions with several prospective candidates. The board plans to accelerate the process with the aim of appointing a new CEO as soon as possible.
Ralston’s position as CEO was not a board position, meaning his departure does not require a change to the company’s board structure.
In the meantime, Blencowe’s existing senior management team will continue overseeing the company’s operations and development activities.
Chief operating officer Iain Wearing will take the lead on day-to-day advancement of the Orom-Cross project. He already has primary responsibility for the project’s operational development and has been closely involved in its major workstreams.
Blencowe said the project continues to make progress across funding, engineering, downstream development and commercial activities.
The company expects the existing management structure to maintain momentum while the search for a permanent CEO is completed.
The leadership change comes as Blencowe continues to advance Orom-Cross, its flagship graphite project in Uganda.
The company is currently focused on securing the funding required for Phase 1 development while also progressing engineering work and developing downstream and commercial opportunities.
Graphite has gained strategic importance as demand for battery materials increases, particularly because of its role in lithium-ion battery production.
Developing a reliable graphite supply chain outside dominant producing and processing markets has also become an important consideration for battery and critical-mineral companies.
Against that backdrop, progress at Orom-Cross remains central to Blencowe’s growth strategy.
Blencowe executive chairperson Cameron Pearce said the company had confidence in the existing management team to maintain progress during the leadership transition.
“Orom-Cross continues to advance across funding, engineering, downstream development and commercial workstreams,” Pearce said.
He noted that Wearing and the wider management team had been closely involved in those activities and would provide continuity while the company completes the search for a new CEO.
Pearce also thanked Ralston for his contribution to Blencowe and said his continued consultancy support through the end of the year would be valuable as the company works on the Phase 1 funding process and other priority areas.
Ralston’s planned retirement at the end of 2026 means the company now has several months to complete the leadership transition while retaining his experience and knowledge of the Orom-Cross project.
