VANCOUVER, BC, March 18, 2021 /CNW/ - Josemaria
Resources Inc. (TSX: JOSE) (OMX: JOSE) (OTCQB: JOSMF)
("Josemaria" or the "Company") is pleased to announce Phil S. Brumit Sr. and David Ogonowski have joined the Josemaria team,
as the first step to assembling the senior leadership team that
will be responsible for constructing the Company's 100% owned
Josemaria Copper-Gold Project in San Juan, Argentina. View PDF version
Adam Lundin, CEO of Josemaria
commented: "Welcoming Phil and Dave to our team to lead the design,
engineering, construction and start-up of the Josemaria Project is
another significant milestone for the Company as we continue to
progress engineering studies, permitting and the negotiation of
commercial terms with our host Governments, in advance of
construction. Having completed the Feasibility Study and
submitted the Environmental and Social Impact Assessment, now is
the perfect time to assemble our construction team and integrate
them into the team that has been leading our engineering and
commercial activities."
Lukas Lundin, commented: "We have
successfully worked with Phil and David on previous projects, and
I'm very pleased they have agreed to join Josemaria. They have
demonstrated time again their ability to efficiently complete
large-scale mining and infrastructure construction projects. I am
confident they will provide the senior leadership required to
successfully construct and commission the Josemaria Project.
Josemaria is a top tier project that will provide considerable
social and economic benefits to San Juan and Argentina, while providing a critical source
of copper in a market that is forecast to experience significant
supply deficits."
Phil Brumit is a mining executive
with over 45 years of experience in property evaluation,
engineering, project management, construction, start-up and
operations within the industry. He is a retired registered
professional engineer with a graduate degree in mine engineering.
Mr. Brumit is well known to the Lundin Family having recently
retired from Minera Candelaria, a
subsidiary of Lundin Mining Corporation, as President and Managing
Director where he managed the rejuvenation and re-capitalization of
the operations increasing reserves and extending mine life while
increasing profitability. He was stationed in Chile on site to manage the large open pit and
three underground mining operations including all aspects of a
large mining business.
Mr. Brumit's previous industry experiences include the
development, construction, operation, and expansion of the Tenke
Fungurume Mine (TFM) in the Democratic
Republic of Congo as President of Freeport-McMoRan Africa
Division and Senior Advisor. TFM at the time was a joint venture
for Freeport-McMoRan Inc., Lundin Mining Corporation and Gecamines
producing copper and cobalt.
Mr. Brumit's other senior roles were in the United States and Indonesia for Newmont Corporation. He
was the North American Manager of Operations managing all aspects
of the production of gold/silver from six open pit and five
underground mining operations utilizing complex metallurgical
processes. In Indonesia, Mr.
Brumit was the General Manager of Operations for PT Newmont Nusa
Tenggara's Batu Hijau mine, which produced copper/gold.
David Ogonowski is a capital
programs executive with over 40 years of experience in project
management, engineering, procurement, construction and
commissioning in the metals and power sectors. He is a registered
professional engineer with a graduate degree in engineering. In
1994, David joined Phelps Dodge
which was subsequently acquired by Freeport McMoRan Copper &
Gold. David retired from Freeport
in 2013 as Director of Capital Programs. He successfully led
numerous copper, gold, cobalt and molybdenum mining projects across
the globe including the Tenke Fungurume copper and cobalt project
in the Democratic Republic of
Congo. The Tenke Project achieved and exceeded world
class standards for safety, quality and schedule. During 2019, as
General Manager, David assessed and directed the execution of
Glencore's developing copper projects in North and South America.
Mr. Brumit and Mr. Ogonowski will lead a world class
Project & Operations Team. The initial team is currently
being assembled and will be expanded as the Project progresses from
engineering through construction to start-up. A seamless
transfer of resources from the Project to Operations is planned
once the mine and plant are commissioned and in operation.
About Josemaria Resources
Josemaria Resources Inc. is a natural resources company focused
on developing its advanced stage, 100% owned Josemaria Copper-Gold
Project in the San Juan Province of Argentina. A recently published Feasibility
Study (see "NI 43-101 Technical Report, Feasibility Study for the
Josemaria Copper-Gold Project, San Juan Province, Argentina" dated effective September 28, 2020 and filed on November 5, 2020) demonstrates a simple and
conventional open pit copper-gold project with robust economics and
a rapid payback period. Josemaria is a Lundin Group company
and works in partnership with the Lundin Foundation to execute best
practices in responsible mineral development in Argentina where the Lundins have a 30-year
track record of value creation. The Company is a reporting issuer
in all Provinces and its corporate head office is in Vancouver, BC. The Company's shares are listed
on the TSX and on Nasdaq Stockholm under the symbol "JOSE", and
trade on the OTCQB under the symbol "JOSMF".
Additional Information
This is information that the Company is obliged to make public
pursuant to the EU Market Abuse Regulation. The information
was submitted for publication, through the agency of the contact
person set out below, on March 18,
2021 18:00 EST.
On behalf of Josemaria Resources,
Adam Lundin,
President and CEO
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TSX: JOSE | OTCQB: JOSMF | Nasdaq Stockholm: JOSE | WKN: A2PN5S
| ISIN: CA48086P1009
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This press release includes certain "forward-looking
information" and "forward-looking statements" (collectively
"forward-looking statements") within the meaning of applicable
Canadian securities legislation. All statements, other than
statements of historical fact, included herein, including, without
limitation, the potential future development of the Josemaria
Project, including the results of the Feasibility Study and the
expected costs and timelines, the transfer of resources, potential
construction and operations, the future operating or financial
performance of the Company; the Company's business goals and
objectives are forward-looking statements. Forward-looking
statements are frequently, but not always, identified by words such
as "expects", "anticipates", "believes", "intends", "estimates",
"potential", "possible", and similar expressions, or statements
that events, conditions, or results "will", "may", "could", or
"should" occur or be achieved. These forward-looking statements may
also include statements regarding perceived merit of properties;
timelines; strategic plans; market prices for precious and base
metals; or other statements that are not statements of fact.
Forward-looking statements involve various risks and
uncertainties. There can be no assurance that such statements will
prove to be accurate, and actual results and future events could
differ materially from those anticipated in such statements.
Important factors that could cause actual results to differ
materially from the Company's expectations include the Company's
ability to finance its planned exploration and development of the
Josemaria Project; commodity price fluctuations; uncertainty as to
whether there will ever be production at the Company's Josemaria
Project; risks related to the Company's ability to commence
production and generate revenues; risks related to lack of
infrastructure; risks related to delays or failure to receive
requisite permits and government approvals; risks related to
inclement weather; risks related to dependence on third parties for
the development of projects; uncertainties relating to the
assumptions underlying resource and reserve estimates; mining and
development risks, including risks related to accidents, equipment
breakdowns, labor disputes, non-compliance with permit requirements
or other unanticipated difficulties with or interruptions in
development, construction or production; the geology, grade and
continuity of the Company's mineral deposits; the uncertainties
involving success of exploration, development and mining
activities; permitting timelines; risks pertaining to the outbreak
of the global pandemics, including COVID-19; government regulation
of mining operations; environmental risks; prices for energy
inputs, labour, materials, supplies and services; uncertainties
involved in the interpretation of drilling results and geological
tests; the need for cooperation of government agencies and
indigenous groups; unanticipated variation in geological
structures, metal grades or recovery rates; fluctuations in
currency exchange rates; unexpected cost increases; uncertainty
related to title to the Company's mineral properties; the ability
of the Company to satisfy the conditions of the terms and
conditions of the debentures issued pursuant to credit facilities;
and the timing and success in obtaining requisite regulatory
approvals and other risks and uncertainties disclosed in the
Company's periodic filings with Canadian securities regulators and
in other Company reports and documents filed with applicable
securities regulatory authorities from time to time, including the
Company's most recent Annual Information Form available under the
Company's profile at www.sedar.com. In addition, these statements
involve assumptions made with regard to the Company's ability to
develop the Josemaria Project and to achieve the results outlined
in the Feasibility Study; the ability to raise the capital required
to fund construction and development of the Josemaria Project; and
the results and impact of future exploration at the Josemaria
Project. The Company's forward-looking statements reflect the
beliefs, opinions, and projections on the date the statements are
made. The Company assumes no obligation to update the
forward-looking statements or beliefs, opinions, projections, or
other factors, should they change, except as required by law.
SOURCE Josemaria Resources Inc.