KGL Resources (ASX:KGL) has appointed Nicholas Spencer as its new Chief Executive Officer (CEO) and Chris Dippenaar as Chief Financial Officer (CFO) to drive the development of the Jervois Copper Project in the Northern Territory.
These appointments have been made as the $73.74 million market capitalisation company progresses ‘encouraging’ work on the optimisation studies for the project post Feasibility Study.
KGL’s new CEO, Nicholas Spencer, has worked in engineering services, logistics, and the aerospace industry and has over 30 years of experience in mining, mine development, and funding.
Spencer will be responsible for the advancement of the Jervois project through to development and will work alongside KGL Executive Chairman Denis Wood.
Wood says: “We have searched extensively for an appropriately qualified CEO and are delighted that Nick is joining the company. His broad experience in relation to exploration, mine development, commercial negotiations, and investment management will be instrumental in driving development of the Jervois Copper Project and in guiding the Jervois team.”
“We have searched extensively for an appropriately qualified CEO and are delighted that Nick is joining the company”
Following the resignation of Amy Treble, Chris Dippenaar has been appointed as CFO.
Dippenaar has over 20 years of mining experience, having held executive and senior commercial and financial leadership roles with various publicly listed international mining companies, including BHP (ASX:BHP).
Given the ‘critical need for copper’, KGL says these appointments demonstrate the importance of the Jervois project at a time when chronic copper shortages could disrupt global supply chains.
KGL says the Northern Territory, along with other states in Australia, recognises copper as a critical mineral. The company has lodged a submission to the Federal Government on why copper should be included in its critical minerals.
Wood says: “KGL’s Jervois Copper Project is well-positioned with approvals and permits to be one of the few projects that can be in production, subject to final investment decision, as the market is faced with a chronic shortfall in supply.
Given the robust outlook for the copper market, we believe that the Jervois copper hub, a high-quality project in a tier-one jurisdiction, will play an important role in supporting jobs and new skills, local business opportunities and economic development activity in Northern Australia.”
He adds that Jervois could help provide a ‘secure, reliable, and sustainable’ supply of critical mineralisation to the company’s strategic partners.
KGL Resources is an Australian mineral explorer and developer focused on the development of the ‘high-grade’ resource at the Jervois Copper Project. As of 30 June 2023, the company had $22.5 million cash and cash equivalent at hand, according to its latest quarterly report.
Write to Aaliyah Rogan at Mining.com.au
Images: KGL Resources