Star Metro - Ecora Resources PLC Announces Directorate change

Michael has been nominated by South32 pursuant to its right under the Relationship Agreement to appoint a director to the Board for so long as it holds not less than 10% of the Company's issued share capital.

Michael has over 20 years' experience in the mining sector, having held senior commercial and business development roles at Lonmin, BHP and most recently as the Vice President Business Development at South32 where he led the divestment of South32's thermal coal operations in South Africa and oversaw the sale of the South32 royalty portfolio acquired by Ecora in 2022.

Andrew Webb, Chairman of Ecora, commented:

"We welcome South32's nomination of Michael to the Board. His familiarity with the operations underlying the portfolio of royalties the Group acquired from South32 in 2022, together with his business development background in the mining sector complement our existing Board skillset. We look forward to Michael's contribution and the ongoing support of South32 as Ecora continues to grow its portfolio of critical mineral focused royalties."

This announcement satisfies Ecora's disclosure obligations in accordance with UK Listing Rule 6.4.8.

For further information:

About Ecora Resources

Ecora is a leading critical minerals focused royalty company.

Our vision is to be globally recognised as the royalty company of choice synonymous with commodities that support trends of electrification by continuing to grow and diversify our royalty portfolio in line with our strategy. We will achieve this through building a diversified portfolio of scale over high quality assets that drives low volatility earnings growth and shareholder returns.

The mining sector has an essential role to play in the energy transition, with commodities such as copper, nickel and cobalt - key materials for manufacturing batteries and electric vehicles. Copper also plays a critical role in our electricity grids. All these commodities are mined and there are not enough mines in operation today to supply the volume required to achieve the energy transition.

Our strategy is to acquire royalties and streams over low-cost operations and projects with strong management teams, in well-established mining jurisdictions. Our portfolio has been reweighted to provide material exposure to this commodity basket and we have successfully transitioned from a coal orientated royalty business in 2014 to one that by 2026 will be materially coal free and comprised of over 90% exposure to commodities that support a sustainable future. The fundamental demand outlook for these commodities over the next decade is very strong, which should significantly increase the value of our royalty portfolio.

Ecora's shares are listed on the London and Toronto Stock Exchanges (ECOR) and trade on the OTCQX Best Market (OTCQX: ECRAF).

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.

SOURCE: Ecora Resources PLC

View the original press release on ACCESS Newswire

D.Cameron--SMC