The Blue International Group is an integrated mining, energy and infrastructure business operating in Sub-Sahara Africa. Blue takes a sustainable approach to the development and ownership of its assets to generate shared value for all stakeholders over the long-term.
 

Latest News

FGR Takes Steps to Secure the Future of the Bogoso Prestea Mine

Accra, Ghana 18 July 2021. Future Global Resources (FGR) has discovered material inaccuracies in information provided by Golden Star Resources (GSR), which FGR relied upon in deciding to acquire the Bogoso Prestea mine. The financial impact of those inaccuracies is significant. FGR will continue to investigate the inaccuracies.
FGR notified GSR of the inaccuracies last week and required GSR to indemnify it in respect of the resulting financial losses it has sustained, in accordance with the provisions of the Bogoso Prestea purchase agreement.


Separately, FGR has recently stepped in to settle an outstanding and ongoing employee dispute relating to severance payments owed to staff at Bogoso Prestea which resulted in repeated industrial actions. In the absence of GSR’s participation, FGR negotiated with the staff to reach an agreement on severance which resulted in a peaceful return to operations and the cessation of the ongoing legal action. FGR claims the cost of this settlement from GSR given that GSR has responsibility for this matter under the purchase agreement.


In light of the above, FGR was not contractually obliged to make the payments that would otherwise be due on July 16, 2021 and will not be making the payment otherwise due on July 31, 2021. FGR and its major shareholder, Blue International Holdings Limited, are, and have been, in full compliance with the purchase agreement and their contractual obligations.

Contact
Buchanan
Ben Romney/ Ariadna Peretz

Email: blue@buchanan.uk.com
Tel: +44 (0)20 7466-5000

 

BCW Infocus

Kwabena G. Kugblenu

Email: kwabena@infocuspr.org

Tel: 0243019322

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Blue International Group appoints new Chief Operating Officer

Blue International Group appoints new Chief Operating Officer to oversee implementation of intregrated mining and energy business
 

Blue International Group (“Blue”, the “Group” or the “Company”), an integrated mining, energy and infrastructure business focused on sub-Saharan Africa, is pleased to announce the appointment of Adam Clode as Group Chief Operating Officer (“COO”).

In this newly created role, Adam will support the Company’s evolution, moving away from a divisional structure to become more centralised and multi-functional, including optimising its processes and efficiency to ensure long-term shared value creation for all stakeholders. His immediate remit will include overseeing the continued turnaround of the Bogoso Prestea gold mine, located within the world-famous Ashanti Gold Belt in Ghana, and supporting the development team on development and acquisition of new projects. This includes the Bumbuna II Hydroelectric power project in Sierra Leone, which is targeted to commence construction in the first half of 2022.

Adam has an exceptional track record of developing resource projects from defined resource through to operations, across Africa, Asia, and Australia, within both the energy and mining sectors. This includes Deputy Project Manager for a platinum concentrator development in South Africa, Deputy Project Manager at RWE’s £850 million Pembroke Power Station in West Wales, Manager of Projects for African Minerals’ US$3 billion Tonkolili iron development in Sierra Leone, and General Manager of Projects for J Resources’ (Indonesia) gold portfolio. Adam has held Board positions as both Executive and Non-Executive Director. He graduated from the University of Western Australia with Honours and has a Master’s in Project Management.

Andrew Cavaghan, Group Chief Executive Officer and Executive Director of Blue commented: "We welcome Adam into this newly formed role and are pleased to add another high-quality individual to the executive committee. Adam’s experience is highly relevant as we build an integrated mining, energy and infrastructure business in sub-Saharan Africa that seeks to achieve long-term, safe and sustainable returns for all stakeholders.”

Contact
Buchanan
Ben Romney/ Chris Judd/ Ariadna Peretz Email: blue@buchanan.uk.com
Tel: +44 (0)20 7466-5000

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Blue International Group Expands into the Mining Sector...

Blue International Group Expands into the Mining Sector – Strategic diversification to facilitate long-term value creation and positive socioeconomic impact
 

Blue International Group (“Blue”, the “Group” or the “Company”), an owner and operator of high-quality long-term assets that safely and sustainably harness the natural resources in sub Saharan Africa, is pleased to announce its entry into the mining sector.

Originally exclusively focused on developing, owning and operating renewable power projects in sub Saharan Africa, the company has recently expanded into the mining sector. The company decided to enter this sector because, like energy, mining also drives compound and sustainable economic development, and critically, the two sectors are also often operationally co-dependent on one another, bringing the opportunity for strategic synergies across the Blue International business.

The Company’s long-term investment philosophy, where its assets are developed to deliver reliable dividends for its shareholders, is driven by the creation of sustainable economic, social and environmental value.

The mining assets are developed and operated through Future Global Resources (“FGR”), established by Blue in 2020, whereas the energy assets are developed and operated through Joule Africa (“Joule”) established by Blue in 2011. The two business divisions are operated independently of one another however the entire group is managed through a single integrated Executive Committee composed of senior representatives from Joule and FGR as well as the Blue International senior leadership team.

The most recent acquisition by Blue is the Bogoso-Prestea gold mine, which is located within the world-famous Ashanti Gold Belt in Ghana and was previously owned by Golden Star Resources. Bogoso-Prestea is the first asset within Blue’s mining portfolio and establishes the Group as the owner of the largest gold concession in Ghana. The concession comprises an 80-kilometre strike and the mine has a 3.3-million-ounce N143-101 compliant resource, with an in-situ value of $5.9bn ($1,800 per oz gold price), which is being mined within only 1-kilometre of the overall strike. With so much more of the strike to be explored and developed, Blue considers there to be considerable long-term value for its shareholders.

Sustainable development and operating responsibly is at the heart of Blue’s business practice. The Management Team is committed to making attractive financial returns while having a positive impact on the communities and countries in which it operates, and the planet as a whole. Blue’s Sustainable Business Principles, underpinned by governance, decision making processes and business integrity management systems, create a long-term sustainable business.

Andrew Cavaghan, Executive Director of Blue, commented: "Our strategy is tailored to achieve a better balance between responsible growth and sustainable practices. Moreover, our activities in sub-Saharan Africa in both mining and renewables are strategically complementary in terms of the co-dependence of the two sectors.  They will enable us to deliver our vision of bringing shared environmental, social and economic value across the Group for the benefit of all our stakeholders. Our acquisition of Bogoso-Prestea is the first step into the mining sector and the first of a number of high-quality, long-life acquisitions we plan to make over the coming years."

 

Contact:

Buchanan
Ben Romney / Chris Judd / Ariadna Peretz
Email: blue@buchanan.uk.com
Tel: +44 (0)20 7466-5000

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