Dec 17, 2020

Roxgold receives mining permit and breaks ground at Séguéla

Roxgold
Gold
Cotedivoire
Dominic Ellis
2 min
Rapid ramp up scheduled next year ahead of commissioning of Côte d’Ivoire gold project in 2022
Rapid ramp up scheduled next year ahead of commissioning of Côte d’Ivoire gold project in 2022...

Roxgold has received a 10-year exploitation (mining) permit from the government of Côte d’Ivoire to develop and operate the Séguéla Gold Project.

Alongside this development, the Canadian-based gold mining company has started early works at Séguéla to protect the project critical path and facilitate a rapid ramp up to full construction next year, ahead of commissioning Séguéla in 2022.

"We are delighted to announce the approval of the exploitation permit which represents a significant milestone in the development of Séguéla," said John Dorward, President and Chief Executive Officer. 

"It has been an exceptional year in progressing Séguéla having grown the total mineral resources to over a million ounces, announcing maiden resources at Koula, Ancien, Agouti and Boulder, completing a preliminary economic assessment, and culminating in the environmental and exploitation permit approvals. 

"We thank the government of Côte d’Ivoire for its demonstrated support and commitment to fostering a positive investment climate and we look forward to a lasting and mutually beneficial partnership."

He added that the Séguéla Project is a key priority for Roxgold, with the potential to more than double its production for shareholders within a short timeframe and without the need for additional equity. 

"The confirmation of the permit and the start of early works is a major accomplishment towards achieving our goal of becoming West Africa’s next multi-asset producer," he said.

Exploitation Permit

The exploitation permit has been approved by the Council of Ministers and signed as a mining decree by the President of Côte d’Ivoire, and other governmental authorities. The decree grants Roxgold an industrial mining permit for development and operation of the Séguéla Gold Project, and opportunities to renew as further growth and expansion is proven.

The company’s final permitting milestone at Séguéla is the completion of the Mining Convention negotiation process. Discussions with the government of Côte d’Ivoire are ongoing.

Next steps

  • Ongoing infill, expansion and satellite target drilling program at Séguéla Q1 2021
  • Drilling results from Boussoura Q1 2021
  • Underground drilling program in 55 Zone at Yaramoko Mine Complex Q1 2021
  • Feasibility Study for Séguéla H1 2021
  • Formal Séguéla construction decision H1 2021
  • Initial resource at Boussoura H2 2021
  • Commissioning of Séguéla Gold Project 2022

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May 13, 2021

Mining Profile: Gary Nagle, CEO, Glencore

Gary Nagle
Glencore
Mining CEO
Decarbonisation
3 min
Gary Nagle joined Glencore in 2000 progressing to head up its global coal operation. He will succeed Ivan Glasenberg as CEO in July 2021

Gary Nagle has spent his career in mining, across two decades, with Glencore – the Anglo-Swiss metals and mining company with a diverse global portfolio. Nagle is a one company man who has experienced the journey of the resources industry from boots on the ground to the boardroom. He will succeed Ivan Glasenberg as Glencore’s CEO in July 2021

Gary Nagle

Gary Nagle was born in South Africa in 1975 where he earned degrees in commerce and accounting from the University of Witwatersrand, before qualifying as a chartered accountant in 1999. Nagle joined Glencore in 2000 as an asset manager in the coal department. His rise was swift; by 2007 he was named chief executive of the company’s Colombian coal operation, Prodeco.

Following the acquisition of Xstrata in 2013, Nagle moved to run the company’s South Africa-focused alloy assets, before being named head of the company’s global coal assets portfolio in 2018

Building his career by rising through the ranks of Glencore’s coal department Nagles was considered the most likely to succeed Glasenberg due to his asset-focus; mining accounts for a growing share of Glencore’s revenue as it moves away from its origins as a pure trader.

Glencore’s Chairman, Tony Hayward, commented on the appointment: “Gary Nagle has held senior roles in coal and ferroalloys in Colombia, South Africa and Australia. He has been on the Board’s radar for more than several years and was selected following a succession process overseen by the Board. We are confident that he has the right skill set and qualities to lead the Glencore of tomorrow.”

Gary Nagle

Glencore

Ivan Glasenberg is retiring from his role as CEO after nearly 20 years at the helm of Glencore which saw him complete one of the largest mining mergers in history, with Xstrata. Looking back on his time at Glencore, the world’s largest commodities trader, Glasenberg reflected: “I am proud of the great company that we have built. Together, we have created one of the world’s largest diversified miners and marketers of commodities. Today, our diversified portfolio uniquely positions us to play an essential role in the global transition to a low-carbon economy.”

Glencore has announced plans to reach net-zero emissions by 2050 by reducing its direct and indirect carbon footprint by 40% by 2035.

Glasenberg has served as mentor to Nagle who has followed a similar career path at Glencore rising to the role of CEO via heading up the company’s global coal business.

Ivan Glasenberg

“I have worked with Gary since he joined the company twenty years ago,” recalled Glasenberg. “I have always regarded it as a critical part of my job to develop the next generation of leadership at Glencore and I am proud of the strong leadership team that we developed from which we were able to select Gary. I am confident that his leadership, along with the support of the management team, will enable Glencore to take advantage of the opportunities that lie ahead and be a strong custodian for my shareholding in the company.”

Looking ahead to the challenges awaiting him, Nagle was full of optimism: “I am grateful for the trust placed in me by the Board and honoured to be appointed CEO at such an exciting time for Glencore. We will continue to deliver value to our shareholders, while operating safely and responsibly.”

Nagle will relocate from Australia to Switzerland to take up his new role.

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