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Quimbaya Gold appoints Peter Simeon to board and formalizes artisanal mining with 10% royalty deal in Colombia

Company Fundamentals
07 Oct 2026
Newsfile Corp
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Bullish
Quimbaya Gold appoints Peter Simeon to board and formalizes artisanal mining with 10% royalty deal in Colombia

Quimbaya Gold Inc. appointed Peter Simeon, a seasoned mining and capital markets lawyer, to its board, enhancing governance. The company also signed an agreement to formalize artisanal mining on its Colombian properties, securing a 10% net smelter return royalty from minerals mined by artisanal miners. This move aims to regulate artisanal mining activities and improve relations with local communities and title holders. While the formalization could provide new revenue streams, the company notes risks including uncertainty in artisanal mining operations and the related party nature of the agreement.

Quimbaya Gold's recent board appointment and artisanal mining agreement provide context for readers. For those tracking Basic Materials, 6 of 38 US stocks rose and 30 fell on Pluang as of Oct 07, 2026 18:12 WIB. AngloGold Ashanti Limited (AU) traded at USD 90.50 with a 3.26% decline, LyondellBasell Industries NV (LYB) was at USD 57.52 down 2.39%, and Rio Tinto (RIO) stood at USD 93.74, down 2.24%.

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