Jervois Mining appoints sales GM
Cobalt miner Jervois Mining has appointed Greg Young as executive GM of sales.
Young is one of the world’s foremost traders of nickel and cobalt products, with extensive knowledge of the commodities, their materials flow, market indices and pricing strategies, the company says.
He gained this experience during his 25-year tenure in Glencore’s US business, which culminated in his appointment as co-head of Glencore US, a position he held for over ten years.
Young started Glencore’s cobalt trading book, which during his tenure became the world's largest. He oversaw US marketing and placement of all nickel and cobalt products resulting from Xstrata’s $17-billion acquisition of Falconbridge, a Canadian base metals producer, in 2006.
He also handled all North American sales resulting from Glencore’s acquisitions of the Mopani copper/cobalt mine and processing plant in Zambia and the Murrin Murrin nickel/cobalt facility in Australia.
Young left Glencore shortly after its initial public offering.
He has joined Jervois to handle the sales and distribution of nickel and cobalt products from the company’s recent refinery acquisition, São Miguel Paulista, and will be based in the US.
At Glencore, Young managed all aspects of its alloy division trading and distribution including transportation, importation, packaging, delivery, tolling contracts, plant production, invoicing and collection.
Young will invest A$750 000 alongside other company principals in the current equity raise, which is co-cornerstoned by Jervois insiders to A$1.75-million.
Young will not be paid any cash salary for his executive duties and will receive 7.5-million options with an exercise price of A$0.325 a share − Jervois’s last closing price. The options will vest in three years subject to continued employment.
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