Amur Minerals Corporation (LON:AMC) announced that it has appointed Adam Habib as its president and an executive board member with effect from September 1, 2020.
The group said Habib will continue to guide and advance funding and strategic partnership considerations allowing for the continued development of the company's far east Russian Kun-Manie nickel and /copper sulphide project.
The company added that its focus will be on the execution of Binding Offtake Contract(s) and funding of the mutually supportive Russian and Western Definitive Feasibility Studies.
Habib was appointed as advisor to the board on Transactions and Corporate Development in February this year and has successfully delivered the investment, alongside Glencore, into Nathan River Resources Pte Limited which owns the Roper Bar Iron Ore Project located in the Northern Territory in Australia.
In a statement, Robin Young, CEO of Amur Minerals Corporation commented: "We are pleased to bring Adam into the Amur Mineral's executive team as President and as an executive member of the Board of Directors. In just over seven months, acting as a financial advisor to the Company, he successfully identified, structured and completed our investment in the Australian iron ore producer Nathan River Resources.
"We are now entitled to receive a 14% quarterly interest payment or convert our funding to a 19% equity holding of the existing issued share capital of Nathan River. These revenues will support funding, development and compilation of the Kun-Manie electric vehicle nickel copper sulphide product bankable feasibility study."
Habib is an experienced senior banker having 17 years of investment banking experience – at Credit Suisse, Lehman Brothers and recently ICBC Standard Bank - with a proven track record in the energy, mining and infrastructure industries.
Most recently he was a senior adviser to the board of Cofely Endel Engie - formerly Cofely Endel GDF Suez 2015-2016 - part of the Engie Group which is one of the largest energy utility companies in Europe with a market capitalisation of around €38 billion (about £34 billion).
The group said that Habib’s extensive relationships across the banking and mining industry will further enhance the company's business network and are expected to bring significant new value to Amur.