AAM was founded on October 28, 2008 with the aim of securing mineral resource licenses in West Africa. Initially AAM made gold, copper and diamond license investments in Guinea and Sierra Leone.
On December 3rd, 2010, AAM acquired a 62.0% investment in a bauxite exploration company Tougue Bauxite and Alumina Corporatoin S.A., known as Toubal in Guinea. At that point, AAM decided to focus solely on developing bauxite projects in Guinea and either disposed of or wrote off its other investments.
On January 24th, 2013 AAM acquired the Forward Africa Resources ("FAR") mine. One year later on January 14th, 2014, AAM acquired the Société Minière D'Alumine S.A. ("Somalu) and Mineral Technology Exploraton Production Guinée S.A. ("Mintep") mines.
During 2014 and 2015, AAM acquired further shares in Toubal, increasing its total shareholding to 92.0%.
AAM’s current strategy is focused on progressing the FAR mine project into near-term production by the end of 2019. The Company will also work to secure a financially viable infrastructure solution for the larger Somalu and Toubal projects. AAM aspires to become a leading player in the exportation of bauxite from all of its assets in Guinea, which holds in excess of 1.4 billion metric tons of high-grade commercial bauxite.
AAM is structured as a public limited company domiciled in the Republic of Ireland. The Company has several subsidiaries including Toubal Group Limited, AAM Overseas Limited, Somalu SA, and Mintep Guinee SA. As part of the transaction contemplated herein, AAM will enter into a joint venture partnership with CECEP for the FAR mine. Pro forma, AAM will own 29.0% and CECEP will own 71.0% of Forward Africa Resources SA.
The AAM management team is comprised of seasoned industry executives with decades of experience in a broad range of disciplines.
James Lumley became the company’s CEO in 2012. James began his career at Barclays Bank in the City of London, specialising in corporate lending and went on to provide consultancy services for a number of multi national companies in raising finance and strategic planning. Since then he has worked with a number of resource companies in raising both private and public funding, which has either lead to a stock exchange listing or takeover.
Previously James was appointed as Managing Director of RAM Resources an ASX listed company, Director of Greenland Resources Limited and CEO of NAMA Resources based in Iceland.
Michel Pothier, a French national based in Conakry is a founder shareholder of the company. He has extensive experience working in Africa and capitalizing on experience in driving projects forward in natural resources, energy, ICT, telecoms and insurance. Michel is a specialist consultant to Governments and international operators on natural resource and energy projects.
Michel is currently the Company’s Operations Director and has extensive experience with mining projects in Africa.
Hans Verschuur joined the company in2014.
Hans is a professional mining engineer with > 35 years of extensive international experience in senior management positions in the bauxite-alumina industry including project management, project evaluation, long term strategic mine development, appraisal and due diligence of mining operations, feasibility studies, technical audits, review of potential bauxite deposits, negotiating supply contracts.
Hans is currently the Company’s Technical Director and has experience in large scale bauxite mining operations including at companies such as Billiton, Pechiney, Alcan, and RioTinto Alcan.
Martyn Knight joined the company in 2012. Martyn is the Company Secretary and has significant finance and M&A experience.
Bradley Reed joined the company in 2014. Bradley has worked in communications for over 35 years having spent time in public relations, marketing, broadcast, print and film. He has worked in North America, Europe and China on a diverse portfolio of projects from Theme Park Development to Sustainable Alternative Renewable Energy and with blue chip companies including Heathrow Airports Limited, Transport for London and Manchester United Football Club.
In summary, AAM has a well-rounded team of executives with a broad range of experience in financial and capital markets, resources and renewable energy. The AAM management team is capable of executing on the Company’s growth strategy.