• $38m acquisition of Araxá to go through September/early October
  • More than 500 intercepts of niobium >1% already at the project
  • St George to rapidly progress exploration and development post-acquisition

 

Special Report: St George Mining has appointed one of Brazil’s previous Mines Ministers, Adolfo Sachsida, as board advisor to provide insights and advice throughout the progression of the Araxá niobium-REE project.

Sachsida has occupied a number of 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

“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,” SGQ (ASX:SGQ) executive chair John Prineas said.

“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.

“Our Araxá project is located adjacent to the world-leading niobium mining operations of market leader Companhia Brasileira de Metalurgia e Mineração (CBMM).”

The deal to acquire the project was carved out early August and already two key ex-CBMM executives, Thiago Amaral and Adriano Rios, have joined SGQ to aid in project development.

 

Brazilian niobium

Araxá sits in Minas Gerais, an established mining district with potential to access infrastructure and labour – factors that are favourable for near-term development potential.

Focus has shifted recently to the strategic metal niobium, used in high-performance solar panels and wind turbines, and creates more efficient industrial applications for a range of technologies.

Extensive high-grade niobium and REE mineralisation has already been discovered at Araxá, which SGQ says will provide a strong foundation for the company to quickly progress to potential resource definition and permitting  – as there’s already >500 intercepts of niobium grades above 1 per cent to delineate.

 

 

This article was developed in collaboration with St George Mining, a Stockhead advertiser at the time of publishing.

 

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

Read MoreRare Earths

Featured Companies

You might be interested in