UPDATE 2.20pm: MZI Resources managing director Trevor Matthews has resigned from the company after four-and-a-half years at the helm. Mr Matthews oversaw the development and ramp-up of the company's Keysbrook mineral sands mine south of Perth. MZI said Mr Matthews and the board had agreed the time was right to transition to a new managing director as the project went to its next stages of production and development. Independent non-executive director and former Iluka Resources executive Dr Steve Ward has been appointed interim managing director while the company searches for a new managing director. The company said Kevin Watters had been appointed as permanent head of operations, succeeding chief operating officer Mike Ferraro. MZI chairman Rod Baxter thanked Mr Matthews and Mr Ferraro for their efforts and achievements.