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Peter Bacchus

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Peter Bacchus is an investment banker and founder of Bacchus Capital Advisers (“BCA”),[1] with experience in M&A and corporate defence, particularly within the mining and natural resources sectors.[2] He is currently the Chairman and Chief Executive of BCA, an investment and merchant banking firm headquartered in London, UK, with operations in Canada and Australia.[2][3]

Bacchus serves as a Non-Executive Director of Gold Fields,[4] an international gold producer, and Apex Royalties, a mining royalty company.[5] Bacchus is also a Director of BCA’s venture companies, including BG Gold,[6] 308 Services,[7] and Green 14.[5] Bacchus founded Yellow Cake plc, which holds physical uranium and is listed on the London Stock Exchange.[8][9]

Career

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Early Career

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Bacchus graduated with an Economics degree from Cambridge University, and, after a short period with the British Government, joined Price Waterhouse in 1992 in London.[10][11]

Investment Banking Career

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In 1995, Bacchus joined Robert Fleming & Co, which was acquired by Chase Manhattan Bank in 2000, and shortly thereafter merged with JP Morgan.[12][13] Bacchus became a director in the M&A team at JP Morgan.[14]

Between 2000 and 2006, Bacchus worked at Salomon Brothers, Inc., which was owned by Citigroup and became Citigroup’s Global Markets division.[15] Bacchus was appointed Co-Head of Asia-Pacific Diversified Industrials and Head of Mining and Metals, Australia, Asia & Africa at Citigroup.[16] Bacchus managed many of Citigroup's metals and mining transactions in Asia and Australia. In 2004, Bacchus acted as a strategic advisor to Chinese state-owned MinMetals on its attempted acquisition of Canada's Noranda.[17] In 2005, Bacchus was defence adviser to WMC against an unsolicited offer from Xstrata and ultimately its sale to BHP.[18][19] The deal was Australia's largest cash offer at the time, valued at US$7.7 billion.[18][19] Bacchus was responsible for advising Fortescue Metals, helping secure US$2.5 billion in financing in 2006 to build strategic port, rail, and mine infrastructure in Western Australia.[20]

In 2006, Bacchus moved to Morgan Stanley in London and became Managing Director in Morgan Stanley’s Global Basic Materials Group and Global Head of Metals and Mining investment banking activities.[21] During this period, Bacchus acted as a defence adviser to Rio Tinto in relation to the unsolicited pre-conditional offer from BHP.[2] The deal was valued at US$147.4 billion and was the largest ever proposed transaction in the mining sector at the time.[22][1][2]

In 2011, Bacchus moved to Jefferies as Joint Head of European Investment Banking and Global Head of Metals and Mining Investment Banking.[23][24] At Jefferies, Bacchus advised First Quantum Minerals on its C$5.1 billion hostile public takeover of Inmet in 2013, which created one of the biggest global producers of copper at the time.[25][26][27] Bacchus also oversaw the bank's acquisition of the Hoare Govett corporate broking franchise.[28][29]

In 2016, Bacchus stepped down from his positions as Global Head of Metals and Mining and Co-Head of European Investment Banking to establish an independent advisory and ventures firm, Bacchus Capital Advisers Limited (“BCA”).[30][23]

Bacchus Capital Advisers

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Bacchus is Chairman and Chief Executive of BCA, an investment and merchant banking firm.[31][2] Bacchus founded BCA with: Richard Allan, former Managing Director and European Head of Mining and Metals at Jefferies, with whom he had worked with since Ord Minnett[2]; Chris Johannsen, former Head of Mining and Metals Advisory – EMEA at Standard Chartered[2]; and Paul Cahill, former Group Head of Business Development and Head of Strategic Relationships Management at Anglo American.[2]

BCA has launched several companies under its ventures arm, including Yellow Cake plc, which it founded in 2017 as a uranium buy and hold vehicle to provide direct exposure to the price of physical uranium.[32][31] Yellow Cake completed a US$200 million initial public offering in 2018 on the AIM sub-market of the London Stock Exchange, during which it purchased the equivalent of 5% of the global marketed uranium production in 2016.[33][32] As of August 22, 2024, Yellow Cake holds 21.7 million pounds of uranium,[34] and reached a market value of US$2 billion in the financial year ending 31 March 2024.[35][9]

In November 2021, BCA founded the environmental carbon company, Green 14, in partnership with African conservation charity, Space for Giants.[36][37] Green 14 focuses on restoring and protecting landscapes in Africa by creating carbon credits from conservation.[36][37]

In December 2022, BCA established BG Gold to acquire Northquest and the Whale Cove project, formerly known as the Pistol Bay project, in Nunavut, Northern Canada.[38] The Whale Cove project is a gold exploration project covering 842 km² with 2.4 million ounces of gold on the west coast of Hudson Bay.[39][40][6]

Board Roles

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Between 2014 and 2017, Bacchus served on the board of Nordgold as a Non-Executive Director and Chairman of the audit committee.[41] Nordgold was an international gold producer operating a portfolio of mines located in Russia, Kazakhstan, Burkina Faso, and Guinea.

In 2016, Bacchus was appointed a Non-Executive Director of Gold Fields, a NYSE and Johannesburg listed international gold producer.[4] Bacchus currently serves as chair of the Strategy and M&A Committee and chair of the Risk Committee.[4]

From 2017 to 2021, Bacchus served as a Non-Executive Director of Kenmare Resources, an LSE-listed mineral sands producer with operations in Mozambique, acting as Chair of the Nominations Committee and as a Senior Independent Director.[42][43][44]

From 2017-2021, Bacchus served as Non-Executive Director of ASX-listed Galaxy Resources, a lithium producer with assets in Australia, Canada, and Argentina, stepping down at that company's merger with Orocobre in 2021 to form Allkem.[45]

In July 2021, Bacchus became Non-Executive Director of Trident Royalties, an AIM-listed diversified mining royalty company, before being appointed as Non-Executive Chairman in May 2024 until the completion of the acquisition of Trident Royalties by Deterra Royalties.[46][47]

Additionally, Bacchus serves as a Director, and former Chair, of the Africa-focused conservation charity, Space for Giants, which launched Green 14 with BCA.[36][37] Bacchus has also served as the Chairman of 308 Services since 2017 and BG Gold since its establishment in 2022.[6] Since September 2024, Bacchus is Non-Executive Director of Apex Royalties, a diversified mining royalty company.[5]

Bacchus is also an adviser to the Board of Skylark Minerals, which in November 2024 brought in a new CEO, former CEO of Nordgold Nikolai Zelenski, and recapitalised the company.[48]

References

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  1. ^ a b "High-profile resources banker Peter Bacchus joins Lepidico defence, starts boutique". Australian Financial Review. 2017-03-15. Retrieved 2024-11-27.
  2. ^ a b c d e f g h Paul, Clarke (10 May 2021). "Boutique Bacchus Capital expands into North America with veteran dealmaker hire". Financial News.
  3. ^ Sandell-Hay, Colin (2020-03-17). "Bacchus Capital Leads Recent Consolidation in Global Gold Sector". The Assay. Retrieved 2024-11-28.
  4. ^ a b c "Gold Fields - Executive Directors". Gold Fields.
  5. ^ a b c "Peter James BACCHUS personal appointments - Find and update company information - GOV.UK". find-and-update.company-information.service.gov.uk. Retrieved 2024-11-27.
  6. ^ a b c "The Northern Miner". March 2024.
  7. ^ "Gold Fields Leadership Team".
  8. ^ SightlineU3O8 (2018-06-04). "Ex-City banker readies £150m float of uranium venture Yellow Cake". SightLine | U308. Retrieved 2024-11-27.{{cite web}}: CS1 maint: numeric names: authors list (link)
  9. ^ a b News, Alliance (2024-07-19). "IN BRIEF: Yellow Cake uranium assets hit USD2 billion amid price spike". MorningstarUK. Retrieved 2024-11-28. {{cite web}}: |last= has generic name (help)
  10. ^ "Peter Bacchus: in a nutshell". Johnian. Retrieved 2025-05-22.
  11. ^ "First Quantum takes Inmet bid to shareholders". City AM. 2013-01-09. Retrieved 2025-05-22.
  12. ^ "BBC News | BUSINESS | Chase buys Fleming for £4.8bn". news.bbc.co.uk. Retrieved 2024-11-27.
  13. ^ "BBC News | BUSINESS | US bank giants merge". news.bbc.co.uk. Retrieved 2024-11-27.
  14. ^ Ahuja|vivek_ahuja, Vivek. "Bacchus hire adds support to Morgan Stanley mining team". www.fnlondon.com. Retrieved 2025-05-22.
  15. ^ "Salomon name disappears into Citigroup". Financial News. 23 May 2001.
  16. ^ Ahuja, Vivek (12 July 2006). "Bacchus hire adds support to Morgan Stanley mining team".
  17. ^ "Mine games". The Sydney Morning Herald. 2004-11-13. Retrieved 2024-11-01.
  18. ^ a b "Execs in bands are out of hand". The Sydney Morning Herald. 2006-07-11. Retrieved 2024-11-28.
  19. ^ a b Stephen, BellDow Jones (14 February 2005). "Australia Approves Xstrata's Bid For Mining Firm WMC Resources". Wall Street Journal.
  20. ^ Phaceas, John (2006-07-07). "Fortescue-Noble deal expected". The Sydney Morning Herald. Retrieved 2024-11-29.
  21. ^ "Jefferies hires two Morgan Stanley execs". Reuters. 16 March 2011.
  22. ^ Werdigier, Julia (November 8, 2007). "BHP Billiton pursues Rio Tinto to create a mining behemoth". New York Times.
  23. ^ a b Denina, Clara (March 24, 2016). "Jefferies' global head of metals and mining Bacchus steps down". Reuters.
  24. ^ "Jefferies raids Morgan Stanley for IB build-out". GlobalCapital. 2011-03-18. Retrieved 2024-11-28.
  25. ^ Gordon, Julie (March 22, 2013). "First Quantum wins $5 billion battle for copper rival Inmet". Reuters.
  26. ^ "First Quantum takes over Inmet: a new copper giant is born". MINING.COM. 2013-03-22. Retrieved 2024-11-28.
  27. ^ "First Quantum takes Inmet bid to shareholders". City AM. 2013-01-09. Retrieved 2024-11-28.
  28. ^ "Financial News". 5 March 2012.
  29. ^ Turner, Giles (5 March 2012). "Bacchus toasts first broker win at Jefferies Hoare Govett". Financial News.
  30. ^ "Jefferies Global Mining Head Bacchus Said to Step Down From Role". Bloomberg.com. 2016-03-24. Retrieved 2024-11-28.
  31. ^ a b Yeomans, Jon (2018-06-04). "Ex-City banker readies £150m float of uranium venture Yellow Cake". The Telegraph. ISSN 0307-1235. Retrieved 2024-11-01.
  32. ^ a b "Yellow Cake secures strategic backer for London IPO". www.ft.com. Retrieved 2024-11-28.
  33. ^ "Milbank Advises on Yellow Cake IPO Valued at Approximately $200M". Milbank LLP. Retrieved 2024-09-09.
  34. ^ "Home". Yellow Cake Plc. Retrieved 2024-09-09.
  35. ^ "London Stock Exchange | London Stock Exchange". www.londonstockexchange.com. Retrieved 2024-11-27.
  36. ^ a b c Gordon, Katie (2021-11-11). "Bacchus Capital Leading the Way for Carbon Credits in Africa". The Assay. Retrieved 2024-11-01.
  37. ^ a b c "The Independent". Independent.co.uk. 5 November 2021.
  38. ^ "BG Gold Corp". www.bggold.ca. Retrieved 2024-11-28.
  39. ^ "BG Gold Announces Significantly Improved Mineral Resource" (PDF). www.bggold.ca. 2025-02-17.
  40. ^ "City mining veteran Bacchus raises £5m for Canada gold project". Sky News. Retrieved 2024-11-01.
  41. ^ "Nordgold Announces Changes to the Board of Directors". nordgold.com. Retrieved 2024-11-01.
  42. ^ "Notice of AGM" (PDF). Kenmare Resources. April 16, 2018.
  43. ^ "2021 Preliminary Results" (PDF). Kenmare Resources. March 23, 2022.
  44. ^ "Kenmare Resources", Wikipedia, 2024-03-30, retrieved 2024-09-09
  45. ^ "Merger of Galaxy and Orocobre Implemented" (PDF). 25 August 2021.
  46. ^ polaris.brighterir.com https://polaris.brighterir.com/public/trident/news/rns/story/x57d40w. Retrieved 2024-09-09. {{cite web}}: Missing or empty |title= (help)
  47. ^ polaris.brighterir.com https://polaris.brighterir.com/public/trident/news/rns/story/w6v63kx. Retrieved 2024-09-09. {{cite web}}: Missing or empty |title= (help)
  48. ^ Chiat, Josh (2024-11-01). "Resources Top 5: Russian gold boss flies into Ironbark". Stockhead. Retrieved 2024-11-29.
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