Gold and Silver

South32’s Fraser takes gold mining CEO job

South32’s Fraser takes gold mining CEO job
Mining News Pro - Mike Fraser, outgoing COO of ASX- and JSE-listed South32, has been appointed CEO of London-listed Chaarat – a gold mining company which operates in Armenia and Kyrgyzstan.

Fraser’s appointment will take effect on January 17.

The incoming CEO comments in a statement he is excited to take Chaarat, which owns the Kapan operating mine in Armenia, as well as the Tulkubash and Kyzyltash gold projects in Kyrgyzstan, into “its next stage of development”.

Fraser has more than 20 years or extensive experience in the global gold mining and metals industry. In April 2018, he was appointed COO of South32 and prior to that he was president and COO of its Africa region. During his time at South32, he has been directly responsible for the operations of underground mines, smelters, and project development. Throughout his career he has held several senior roles, including human resources president of BHP and asset president of Mozal Aluminium, in Mozambique.

Last week, South32 announced that Fraser would leave the company and that current VP of operations at Worseley Alumina, Noel Pillay, would be appointed as COO for the African and Colombian operations. Pillay will return to South Africa.

Chaarat, founded in 2007 with an initial goal of exploring and developing a gold project within the Tien Shan gold belt, in Kyrgyzstan in 2019 bought the Kapan mine and processing company from Polymetal. Kapan is expected to deliver 57 000 gold-equivalent ounces this year.

The Tulkubash project will produce an average of 95 200 oz/y, at an all-in sustaining cost of $866/oz. The company continues to aim for first gold production in 2023, although the impasse between Canada’s Centerra Gold and Kyrgyzstan over the seizure of the Kumtor mine has delayed debt financing for the proposed mining project.

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