AKORA Resources appoints new CEO to lead development of Bekisopa iron ore project
AKORA Resources (ASX: AKO) has appointed geologist and mining expert Peter Bird to the joint roles of managing director and chief executive officer following the retirement of current boss Paul Bibby.
Mr Bird will be responsible for leading the development of the company’s flagship Bekisopa project in Madagascar, which AKORA expects to produce up to 2 million tonnes per annum of direct shipping ore at an average grade of 61.6% iron for export to blast furnace and basic oxygen furnace steelmakers.
Mr Bibby will step down as managing director this week and assume an advisory role to ensure a smooth leadership transition.
Extensive resumé
Mr Bird was previously executive general manager at Rex Minerals, where he played an instrumental role in last year’s $393 million takeover by Mach Metals Australia.
His earlier mining appointments included as executive chair of Zenith Minerals (ASX: ZNC), non-executive chair of Excelsior Gold and chief executive officer of Asiamet Resources.
Mr Bird also has extensive capital markets and investor relations experience, having held senior investor relations and analyst roles with Newcrest Mining, Normandy Mining and Merrill Lynch Equities Australia.
He was a joint founder and managing director of Heemskirk Consolidated prior to its takeover by a private equity group and is currently non-executive chair of base and precious metals explorer Cosmo Metals (ASX: CMO).
‘Comprehensive search’
Akora chair Graeme Hunt welcomed Mr Bird to AKORA.
“Peter’s appointment follows a comprehensive executive search process and we believe his excellent mix of experience will ensure we deliver shareholder value as we progress Bekisopa beyond the PFS,” he said.
He also praised Mr Bibby’s contribution to the company.
“Paul departs AKORA having progressed a maiden mineral resource, scoping study and comprehensive pre-feasibility study (PFS) since we listed in December 2020 and we thank him for his focused and dedicated work, achieving so much in a short time.”
Growth period
Mr Bird said he was keen to join the company at an “exciting time” of its growth.
He will help advance the project beyond the PFS AKORA released in March that confirmed the potential to upgrade the ore concentrate grade to more than 68% iron at 75 microns for shipping to direct reduced iron-electric arc furnace steelmakers to make greener steel.
“The AKORA portfolio has tremendous upside potential with a pipeline of neighbouring projects associated with Bekisopa,” he said.
“We recognise the critical role that high-grade iron ore from Bekisopa will play in the global push to decarbonise, particularly in the development of green steel and I look forward to engaging with our shareholders and our Madagascan stakeholders as we work to bring this high-value and pivotal project into reality.”