St George Mining Limited (ASX: SGQ) has announced the appointment of Adolfo Sachsida, Brazil’s former Minister of Mines and Energy, as an advisor to its Board.
This move comes as the company prepares to acquire the high-grade niobium-REE Araxá project in Minas Gerais, Brazil.
Sachsida brings a wealth of experience from his distinguished career in the Brazilian government, having held key positions such as Minister of Mines and Energy, Chief Secretary of Economic Affairs, and Secretary of Economic Policy of the Ministry for the Economy.
John Prineas, St George Mining’s Executive Chairman, expressed enthusiasm about the appointment, stating: “Adolfo’s wealth of high-level experience in the government and business sectors of Brazil will be of enormous value to St George as we strive to build a globally significant niobium company.”
The appointment aligns with St George’s vision to create a responsible mining operation in Brazil that delivers value to all stakeholders.
It follows the recent recruitment of in-country niobium industry experts, positioning the company to capitalise on the unique niobium-REE development opportunity at Araxá.
St George is targeting late September or early October 2024 for the closing of the Araxá acquisition, subject to shareholder approval.
The Araxá project offers a strong foundation for rapid progression towards resource definition and permitting, with over 500 intercepts of niobium grades exceeding one per cent already identified.
Located in an established mining district, the project benefits from potential access to infrastructure and labour, factors conducive to near-term development.
Notably, it is adjacent to the world-leading niobium mining operations of CBMM (Companhia Brasileira de Metalurgia e Mineração).
This appointment, along with the recent additions to St George’s Brazil team, underscores the company’s commitment to investing in Brazil and swiftly advancing activities at Araxá post-acquisition.
