Jubilee Metals Group appoints Mr Ollie Oliveira as Non-Executive Chairman

Jubilee Metals Group plc (LON:JLP / Altx: JBL) , a leader in metals processing with operations in Africa , has announced the appointment of Manuel Lino Silva de Sousa Oliveira (Ollie) as independent non-executive director of the Company with immediate effect.

·    Appointment of Mr Ollie Oliveira as Non-Executive Chairman

·    Expansion of Executive Committee dedicating further resources to the Global Expansion Strategy

·    Appointment of Berenberg as Joint Broker

The board has also voted unanimously to appoint Mr. Oliveira as the independent non-executive Chairman of Jubilee with effect from 1 June 2022. The appointment of Mr. Oliveira follows the previously announced decision by Colin Bird, founder of Jubilee, to retire as non-executive Chairman from the Jubilee board. Colin will step down as Chairman to pursue his various initiatives outside of Jubilee with effect from 1 June 2022, following which he will step into an advisory role assisting with special projects as advised by the board with no continued executive duties.

Jubilee is also pleased to announce the appointment of Joh. Berenberg, Gossler & Co KG (“Berenberg”) as joint corporate broker alongside its existing brokers, with immediate effect.

Jubilee also announces key changes to the members of its Executive Committee under the leadership of the Chief Executive Officer, Leon Coetzer, in-line with its drive to expand its business globally. Pedja Kovacevic steps into the role as Chief Strategy Officer (“CSO”) to dedicate his focus to the global expansion drive, from his current role as Group CFO, with Peet van Coller who joined the Company as the new Group CFO. 

Colin Bird, outgoing non-executive Chairman, commented: “When I first founded Jubilee and listed the business in 2004, I would never have guessed we would forge such a unique path in the South African platinum and chrome sector and in Zambian copper, one that took us from a prospective underground miner to where we are today – a leader, not only in the Bushveld Complex, but now globally, in the extraction of metals from waste.

“As I said at the AGM in December, when announcing the decision to step aside, the development of Jubilee over recent years has been an exciting period for all of us and the Company is incredibly well positioned to expand internationally. I have no doubt that Ollie is the right person to join a very capable executive team under the leadership of Leon Coetzer, to steer Jubilee in the next phase of its evolution and I look forward to collaborating with Ollie and Leon to offer my support to the Company, that I continue to hold very dearly.”

Leon Coetzer, Jubilee Metals CEO, commented: “I welcome Ollie to the board of Jubilee and look forward with great confidence to working closely with him as we continue to build on our recent period of significant growth and sustained financial performance. Ollie’s experience will be of significant value to our Company given his vast experience, knowledge of the sector and deep understanding of financial markets, as the roll-out of our global metals processing strategy continues this year and beyond.

“I would like to take this opportunity to extend my sincere thanks to Colin who has been instrumental in steering Jubilee to the Company it is today. Having founded Jubilee, Colin has worked tirelessly to build our position and reputation, and the leading metal processing expertise he has helped create can now be deployed as we implement our strategy to grow internationally. 

“On a personal note, Colin has been a mentor for me for many years now and I would like to thank him for his guidance and mentorship. I look forward to continuing my work with Colin as he steps into an advisory role and we broaden our focus in an organised, strategic, but aggressive way, with the global roll-out of the Company’s brand, ‘The Jubilee Way’.”

Ollie Oliveira, incoming non-executive Chairman, commented: “I am excited to be joining such a unique business at this exciting point in its growth phase. It is rare that a metal producing company’s core business also serves to clean up the environmental liabilities of the past. And, while the opportunities to roll out this model globally are numerous, they need to be pursued with prudence and sound judgement.

“On behalf of the board, I would like to thank Colin for his stewardship over the years, helping Jubilee become the great company it is today. Personally, I am grateful that he has agreed to stay on in an advisory role for the next two years. The benefits of a smooth transition and his passing on of knowledge in the Company cannot be underestimated.”          

The appointment of Ollie is part of the Company’s global development plan as set out previously.

Ollie is a Chartered Accountant and economist with over 35 years of strategic and operational experience in the mining industry and corporate finance. Mr Oliveira has substantial international experience, having been an executive and non-executive director, and chair of board committees, of companies quoted on various exchanges. He previously held senior executive positions within the Anglo-American Group, including as Executive Director – Corporate Finance as well as Head of Strategy and Business Development at De Beers S.A. Ollie has led and managed corporate finance assignments totalling in excess of US$ 36 billion covering every major commodity, including the US$ 19.3 billion De Beers public-to-private transaction in 2001. With his executive experience, Mr Oliveira has profound knowledge and contacts at Government levels in a number of African and South American resources jurisdictions.

Ollie currently serves as a non-executive director and chair of the audit committee of Vale S.A., the Brazilian multinational corporation engaged in metals and mining and one of the largest logistics operators in Brazil. In addition, he has previously been on the board, in non-executive capacities, of BlackRock World Mining Trust Plc, Polymetal International plc and Antofagasta Minerals plc – the latter two being former and current constituents, respectively, of the FTSE 100.

Critically Ollie, who is based in the UK, has over 18 years of experience in engaging with London-based institutional investors. His appointment follows a thorough assessment of potential candidates and was approved after a unanimous vote by Jubilee directors.

The following details in relation to the appointment of Manuel Lino Silva de Sousa Oliveira (aged 70) are disclosed in accordance with Schedule 2(g) of the AIM Rules: