Cherry succeeds Sayer as Perpetua CEO

15th March 2024 By: Mariaan Webb - Creamer Media Senior Deputy Editor Online

Cherry succeeds Sayer as Perpetua CEO

The Stibnite project

Perpetua Resources, the company behind the Stibnite gold project in the US, has a new CEO.

Mining veteran Jon Cherry has been appointed president and CEO, succeeding Laurel Sayer, who notified the board of her intent to step down with effect from Thursday.

"I joined Perpetua with the goal of securing a record of decision for the Stibnite gold project. Now, with our final record of decision expected in 2024, it's time to pass the baton to the leader who will take Perpetua into our next phase of development," said Sayer, who would serve as senior adviser to the CEO until March 2025.

"Leading the Perpetua Resources team has been the greatest accomplishment of my career, and over the next year, I remain committed to securing our record of decision and working hand-in-hand with Jon to sustain Perpetua's vision, culture, and commitments well into the future." 

Cherry joins Perpetua Resources with more than 33 years of extensive mining industry experience including permitting, capital raising, project development, joint venture formation, and operations.

He most recently served as chairperson, president and CEO of PolyMet Mining. During his tenure at PolyMet, the NorthMet project received the highest rating the Environmental Protection Agency has ever given to a mining project. 

Cherry also played a leading role in negotiating a joint venture with Teck Resources before PolyMet's sale to Glencore.

Before Polymet, Cherry served as a senior leader for the multibillion-dollar Resolution Copper JV project (owned by Rio Tinto and BHP), general manager of Rio Tinto's Eagle mine and senior project engineer at Rio Tinto Kennecott Utah Copper.

In connection with the leadership transition, the board of directors appointed Cherry to fill the vacancy left by Sayer's retirement, effective March 14.

To further support the transition to the development and financing stage of the project, the board appointed Perpetua Resources' CFO Jessica Largent as a director.

The addition of Largent brings operational finance experience to the board as the company prepares for its next phase.