LSE-listed Gem Resources has appointed Robert Nigel Chapman as CEO and executive director, effective November 6.

He succeeds Dr Bernard Olivier, who is stepping down to focus on other business interests. Olivier will remain on the board as a nonexecutive director in a transition that provides dedicated executive leadership while preserving continuity and access to Olivier’s mining industry experience and knowledge of Gem Resources.

“I am delighted to welcome Nigel to the board as our new CEO. He brings more than three decades of international experience in mineral exploration, project development and mining operations, and I look forward to working with him as Gem Resources continues to advance its strategy, including its increasing focus on operating, revenue-generating natural resources businesses and gold processing,” said Gem Resources executive chairperson Louis Ching.

“Having worked extensively in South America since 2014, I have developed a strong understanding of the region's geology, mining industry, regulatory environments and the practical challenges of developing and operating mining projects,” added Chapman, noting that his focus will be on applying sound technical judgement, operational experience and commercial discipline to build a sustainable, revenue-generating business and deliver long-term value for the company’s shareholders.

“I look forward to working closely with Louis, Bernard and the wider team as we progress Gem Resources' strategy, particularly the proposed acquisition of the El Yarumo gold processing operation in Colombia, which remains subject to conditions, and the identification of further opportunities across the natural resources sector.”

According to Gem Resources' update to shareholders on Friday, Olivier will not be considered independent for the purposes of the UK Corporate Governance Code.

Further, the change follows a planned and mutually agreed transition, allowing Olivier to reduce his day-to-day executive commitments and devote more time to his other business interests, while continuing to support Gem Resources at board level.

“On behalf of the board, I would also like to thank Bernard for his leadership and significant contribution as CEO. He has played an important role in the development and strategic repositioning of Gem Resources,” said Ching.

“I am particularly pleased that he will continue to serve on the board, where his technical expertise, experience and knowledge of the company will remain valuable. Nigel’s appointment, alongside Bernard’s continued involvement, provides an effective combination of new executive leadership and continuity for the next stage of Gem Resources’ development,” he concluded.