ASX-listed uranium producer Peninsula Energy has appointed George Bauk as its new MD and CEO, effective January 20.

The announcement follows the company’s structured succession plan initiated after current MD and CEO Wayne Heili announced his intention to step down in 2025. Heili will remain with Peninsula as a technical adviser.

Bauk brings more than three decades of experience in the uranium, rare earths, gold, lithium, and graphite sectors. His career includes managing companies through exploration and production phases and securing over A$670-million in funding through equity, debt, and government grants. Bauk’s industry and political connections span Australia, the US and key international markets.

Outgoing CEO Heili expressed pride in Peninsula’s achievements under his leadership since 2017. “We have built an exceptionally unified and innovative team, overcome challenges and maintained our focus to restart operations at Lance to place the company in a strong position for success and significant value creation. Through the restart of operations at Lance, Peninsula can now provide a secure and sustainable uranium supply for an energy-hungry, low-carbon future. Following the delivery of this major milestone, I am pleased to be handing the reins over to someone as qualified as George to take Peninsula through the next phase of corporate and operational growth," said Heili.

Incoming CEO Bauk acknowledged Heili’s contributions and said he was excited to lead Peninsula in what is a pivotal time for the uranium sector.

"The uranium market is experiencing a remarkable resurgence, driven by the growing global demand for clean, reliable energy. As nations prioritise reducing carbon emissions and enhancing energy security, uranium’s role in fuelling nuclear power has become more critical than ever. The past year has underscored this growth, with increasing investments in nuclear energy projects, growing global recognition for nuclear as the leading clean energy source and strong tailwinds for the sector," said Bauk.

The Lance Project, which has recently resumed production, is central to Peninsula’s strategy of providing secure and sustainable uranium supply for the growing nuclear energy sector.