SEBASTIEN de Montessus has been appointed CEO of Mansa Resources months after his ousting from Endeavour Mining over alleged irregular payments, said Bloomberg News citing people familiar with the matter.
The 51-year-old French executive will lead efforts to revive the Kouroussa gold mine in Guinea, which Mansa acquired from Hummingbird Resources alongside the Dugbe development project in Liberia. A company database in the United Arab Emirates shows De Montessus serves on the board of the Dubai-registered company, established 10 months ago. He also holds shares in the venture, said the newswire.
De Montessus re-entered gold mining during bullion’s record rally, advising Burkinabe businessman Idrissa Nassa on refinancing Hummingbird. Nassa’s entities, which were the London-listed miner’s largest shareholder and creditor, took Hummingbird private last March.
Endeavour’s board removed de Montessus in January 2024 for alleged serious misconduct linked to payments exceeding $20m to a UAE-registered entity. The company said it could not identify the final recipient. De Montessus maintained the funds went to an established contractor and that he gained no personal benefit. The parties settled in July 2024.
Nassa’s Nioko Resources Corp holds Mansa’s largest stake, one person said. New York-based Orion Resource Partners, which partnered with Washington to establish a $5bn critical minerals fund, owns shares and a board seat.
Nassa founded Coris Bank International SA, operating across 10 African countries.
