St George Mining (ASX: SGQ) has announced the appointment of Adolfo Sachsida – Brazil’s former Minister of Mines and Energy and a highly credentialled business leader – as an advisor to our Board.
Mr Sachsida has occupied important Federal Government positions in Brazil during his career including:
- Minister of Mines and Energy
- Chief Secretary of Economic Affairs of the Ministry for the Economy
- Secretary of Economic Policy of the Ministry for the Economy
“We are delighted to welcome the well-regarded and highly credentialled Adolfo Sachsida to our team as we enter an exciting growth phase for St George with the proposed acquisition of the high-grade niobium-REE Araxá project in Minas Gerais, Brazil,” St George executive chairman John Prineas said.
“Adolfo’s wealth of high-level experience in the government and business sectors of Brazil – including his leadership as Minister of Mines and Energy – will be of enormous value to St George as we strive to build a globally significant niobium company. Aligned with Adolfo’s values and vision for his country, St George wants to create a responsible mining operation in Brazil that can deliver value to all stakeholders.
“Following last week’s appointment of in-country niobium industry experts, the addition of Adolfo as a key member of our team positions St George well to create real value as we progress the unique niobium-REE development opportunity at Araxá.”
Mr Sachsida, incoming advisor to the board of St George, commented:
“Brazil is the world leader in safe and responsible niobium production and St George has a pathway to join a small and elite group of niobium producers with the acquisition of the Araxá project in Minas Gerais.
“Brazil, and the State of Minas Gerais in particular, is a Tier 1 mining jurisdiction and I am very pleased that St George has recognised this favourable investment environment and committed to a very significant investment with the acquisition of the Araxá project.
“St George’s focus on creating value for all stakeholders aligns with my vision. I am excited about working with St George to help build a strong new business in Brazil.”
As previously announced, St George is targeting a closing for the Araxá acquisition in late September/early October 2024, following a general meeting of St George shareholders at which approval of matters relating to the proposed acquisition will be sought. A notice of meeting is expected to be issued to shareholders shortly.
The Araxá project provides a strong foundation for St George to quickly progress to potential resource definition and permitting, with extensive high-grade niobium and REE mineralisation already discovered at the project – including more than 500 intercepts of niobium grades above one per cent.
The project is located in an established mining district with potential to access infrastructure and labour – factors that are favourable for near-term development potential. Araxá is also adjacent to the world-leading niobium mining operations of market leader CBMM (Companhia Brasileira de Metalurgia e Mineração).
The appointment of Mr Sachsida follows the recruitment of Thiago Amaral and Adriano Rios to St George’s Brazil team, demonstrating the company’s commitment to invest in Brazil and rapidly progress activities at Araxá post-acquisition.
