The appointment of Brazil’s former Minister of Mines and Energy Adolfo Sachsida as an advisor to the board of St George Mining Ltd (ASX:SGQ) puts the company in a strong position to execute its growth strategy which includes the proposed acquisition of the high-grade niobium-REE Araxá Project in Minas Gerais, Brazil.
Sachsida has held several roles within the Brazilian federal government including:
- Minister of Mines and Energy;
- Chief Secretary of Economic Affairs of the Ministry for the Economy; and
- Secretary of Economic Policy of the Ministry for the Economy.
He has also served as Professor of Economics at the University of Texas and the Universidade Catolica de Brasilia.
Strategic advice and support
Sachsida will provide insights, strategic advice and support to the board as St George develops its niobium business in Brazil.
The company expects to complete the Araxá acquisition in late September/early October 2024.
“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 Mining 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.”
Closing in on Araxá Acquisition
St George expects to complete the Araxá acquisition in late September/early October 2024, subject to shareholder approval.
This acquisition will enable the company to advance swiftly towards resource definition and permitting, with the project already demonstrating extensive high-grade niobium and rare earth element (REE) mineralisation. Over 500 intercepts with niobium grades exceeding 1% have been identified.
The Araxá project is strategically located in an established mining district, offering access to infrastructure and labour, which supports its near-term development potential. Notably, the project is adjacent to the world-leading niobium mining operations of CBMM (Companhia Brasileira de Metalurgia e Mineração).
As well as Sachsida, St George has strengthened its Brazilian team with the appointment of Thiago Amaral and Adriano Rios. These appointments reflect the company's commitment to investing in Brazil and advancing the Araxá project post-acquisition.
"Aligns with my vision"
“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,” Sachsida said.
“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.”