Meet the Team: Marcus Brewster, COO of Serabi Gold

In mining, the difference between success and failure often comes down to one factor: the people. Management can make or break any project, regardless of the underlying geology. For investors, evaluating management isn't just part of due diligence - it's the foundation of it. This profile examines Marcus Brewster's background and role at Serabi Gold through the lens of why leadership capabilities determine mining investment outcomes.

In mining's complex ecosystem of technical challenges, regulatory frameworks, and operational demands, the ability to seamlessly integrate into existing operations while driving performance improvements represents a rare leadership capability. For investors evaluating management transitions, the speed and effectiveness of new leadership integration often signals broader organizational strength and operational resilience. Marcus Brewster's arrival at Serabi Gold as Chief Operating Officer in January 2025 exemplifies how deep industry relationships, diverse operational experience, and compatible management philosophy can create immediate value in specialized mining environments.

Diverse Technical Foundation & Global Experience

Marcus Brewster's path to mining leadership combines geological understanding with engineering practicality, educated at Camborne School of Mines in the UK with subsequent hands-on experience across multiple continents and mining methodologies. Unlike many mining executives who specialize in either surface or underground operations, Brewster brings a balanced "50-50 open pit underground" background that provides operational flexibility in diverse geological settings.

His career trajectory demonstrates progressive responsibility across challenging jurisdictions. Beginning with Troy Resources' underground operations in Brazil, Brewster advanced to general manager roles at Damang Mine in Ghana, followed by Endeavour Mining's Houndé Gold Operation in Burkina Faso. This West African experience, combined with work in Southeast Asia, provided exposure to varying regulatory environments, workforce cultures, and operational challenges that few mining executives possess.

The COVID interlude, where Brewster managed interim general manager assignments in Europe, added another dimension to his international experience while maintaining operational continuity during industry disruption. His subsequent role as COO at Tristar Gold, located approximately 200 kilometers from Serabi's operations in similar paleoplastic geology, provided direct regional knowledge that proved invaluable for his current position.

This geological familiarity with Brazil's Tapajós region represents a significant strategic asset. As Brewster notes, the "very similar geology" between his Tristar experience and Serabi's operations enabled him to "move that project forward" using established regional knowledge, demonstrating how specialized geological understanding creates transferable value in similar ore body settings.

Seamless Integration Through Industry Networks

Perhaps most remarkably, Brewster's integration into Serabi represents what he describes as "probably one of the easiest onboarding exercises I've ever had with a company." This seamless transition stems from deep existing relationships with Serabi's operational leadership team, highlighting the value of industry networks in Brazil's limited underground mining sector.

The relationship foundation runs deep: current General Manager Kilser Cardoso served as Brewster's mining manager at Troy Resources for three years. The exploration manager has been known to Brewster since his Goldfields days in Brazil. Project Manager Paulo Mendez at Coringa represents another twice-previous working relationship. As Brewster explains, when Troy's operations concluded, many skilled operators joined Serabi due to Brazil's limited pool of underground mining professionals - just 31 underground mines in the entire country.

This pre-existing relationship network eliminates the typical "honeymoon period" that accompanies senior management transitions. Instead of spending months building relationships and understanding operational dynamics, Brewster could implement "boots down on the ground and running very hard" from day one. For investors, this represents exceptional continuity during leadership transition - a period that often introduces operational risk.

Additionally, Brewster's historical connection to Serabi extends to 2007, when he worked as technical services manager for the company. This prior exposure to Serabi's operational culture and Mike Hodgson's leadership philosophy creates additional integration advantages, demonstrating long-term relationship building within Brazil's specialized mining community.

Operational Excellence Through Disciplined Execution

Brewster's operational philosophy emphasizes systematic execution over complexity. His approach to translating corporate strategy into daily operations reflects practical mining experience:

"We basically know what we need to do on a monthly basis and we break that down into a more manageable mining plan, week by week."

This methodical approach has delivered immediate results. Serabi's strong start to 2025 validates Brewster's execution capabilities while demonstrating organizational alignment between strategic direction and operational implementation. The "day by day management process" reflects his hands-on operational background while respecting the established team's capabilities.

His management style balances oversight with delegation, describing himself as operating on "the other end of the scale" from micromanagement. This approach proves particularly valuable for remote mining operations where excessive oversight becomes impractical. Regular site visits every five to six weeks for extended periods allow for strategic oversight while empowering daily decision-making by site leadership.

The operational team structure reflects this balance. Director of Operations Helio Tavares brings extensive Palito and Coringa experience, supported by General Manager Kilser Cardoso's underground mining expertise and specialized department heads. Brewster's role focuses on strategic course maintenance and execution support rather than operational micromanagement, optimizing the strengths of an experienced local team.

Addressing Amazon Mining Challenges

Operating in the Tapajós region presents unique challenges that Brewster addresses through practical solutions informed by international experience. Logistics represents the primary constraint - Brewster's three-day journey from the UK to site illustrates the isolation challenge. However, recent infrastructure improvements, particularly the tarring of federal highway BR 163, have significantly improved access during wet seasons.

Skills development represents another critical challenge in a region with limited underground mining culture. Brewster's approach mirrors Serabi's established training philosophy: identifying individuals with transferable skills from trucking and equipment operation, then developing mining-specific capabilities through comprehensive training programs. This approach leverages local workforce availability while building specialized skills internally.

Safety management becomes particularly crucial with relatively inexperienced workforces operating in Serabi's shrink-stoping mining methods, which require close interaction with rock faces. Brewster emphasizes "extra attention to our safety standards, even more so than normal," recognizing that safety performance directly impacts operational sustainability in challenging mining environments.

His experience managing diverse workforces across West Africa, Brazil, and Southeast Asia provides cultural sensitivity essential for effective safety program implementation. The management philosophy of "treating people the way you want to be treated" creates consistency across cultural contexts while building trust with local workforces.

Responsible Mining Leadership in the Amazon

Brewster's approach to responsible mining reflects both environmental awareness and practical operational advantages. Underground mining methods at both Palito and Coringa minimize surface disruption compared to open pit operations, creating inherent environmental benefits that align with Amazon stewardship expectations.

More significantly, Serabi's remediation approach addresses historical environmental damage from illegal mining operations. Rather than merely managing current impacts, the company actively improves environmental conditions by filling illegal mining holes, applying topsoil, and implementing revegetation programs. This approach exceeds regulatory requirements while demonstrating positive environmental contribution.

Community integration represents another strength area. With 70% of the workforce drawn from local communities, Serabi creates direct economic benefits while building stakeholder support. The company's community relations extend beyond employment to infrastructure maintenance, school support, and local procurement - 46% of purchases originate within the state, including locally grown food supplies.

Regular engagement sessions with local communities, mayors, and regulatory officials maintain transparent communication channels. The ESG manager and community relations coordinator conduct frequent meetings with regional and state capital regulators, ensuring proactive compliance management rather than reactive responses to regulatory concerns.

Strategic Focus on Grade & Technology

Brewster's operational philosophy aligns perfectly with Serabi's high-grade strategy. His emphasis on grade quality over quantity:

"Grade is king for us."

This maintains operational discipline despite higher gold price environments that tempt many operations to process lower-grade material.

Serabi's disciplined approach avoids what Mike Hodgson describes as throwing "the kitchen sink at the processing plant." Instead of lowering cutoff grades to increase tonnage, Serabi maintains grade standards while leveraging ore sorting technology to maximize value from processed material. The ore sorters at both operations enable processing of lower-grade stockpiles while maintaining overall grade quality.

The technological approach enables Serabi's unique 250-kilometer ore trucking model. Ore sorting removes 40-50% of waste material at Coringa, creating a pre-concentrated product suitable for long-distance transport to Palito's processing plant. This model eliminates the need for separate processing facilities and tailings management at satellite operations, reducing environmental footprint while maximizing operational efficiency.

Growth Vision & Regional Opportunities

Brewster's growth perspective reflects deep understanding of the Tapajós region's potential. His observation that "some estimates of 40 million ounces being mined from this region, largely by the illegal and small scale miners" demonstrates the historical gold endowment that formal mining operations can systematically develop.

The trucking model's success creates scalability for additional satellite operations within the 250-kilometer radius of existing processing capacity. This hub-and-spoke approach leverages infrastructure investments while minimizing environmental impact through centralized processing. Brewster's exploration strategy targets opportunities "not only immediately around our mines, but between the mines and further afield within the Tapajós."

His broader perspective extends beyond the Tapajós to Para state's premier mining opportunities, including the Carajás region. Brewster recognizes Serabi's competitive advantages in this expansion:

"We have the expertise, we have the knowledge, we have the experience, which a lot of junior explorers don't have."

This positions Serabi to capitalize on junior exploration success through acquisition or partnership structures.

Investment Implications & Operational Track Record

Brewster's appointment represents continuity and enhancement of Serabi's operational capabilities rather than disruption. His international experience combined with Brazil-specific knowledge and existing team relationships creates immediate operational value while positioning the company for regional expansion.

The balanced open pit and underground experience provides operational flexibility for diverse acquisition opportunities. His management philosophy aligns with Serabi's established culture while bringing fresh perspectives from international operations. The emphasis on grade quality and technological solutions supports margin expansion in varying gold price environments.

For investors, Brewster's track record demonstrates capabilities essential for emerging market mining success: operational excellence across cultural contexts, safety leadership with inexperienced workforces, community relations management, and strategic thinking about regional growth opportunities.

Looking Forward

As Serabi transitions from single-asset producer to regional mining company, Brewster's operational leadership provides confidence in execution capabilities during this critical growth phase. His systematic approach to daily operations, combined with strategic vision for regional expansion, positions Serabi to capitalize on the Tapajós region's significant gold potential.

The seamless leadership integration eliminates typical transition risks while adding international operational expertise to Serabi's Brazilian focus. Brewster's grade-focused philosophy supports sustainable margin expansion while his technological understanding enables innovative solutions like the long-distance trucking model.

With strong gold prices supporting cash generation and exploration investment, Brewster's operational discipline ensures that growth opportunities translate into sustainable value creation. His emphasis on treating people well while maintaining operational standards creates workforce stability essential for remote mining success.

For investors evaluating Serabi's growth trajectory, Marcus Brewster represents the operational leadership capabilities necessary to execute expansion plans while maintaining the quality focus and community relations that distinguish Serabi's approach in Brazil's challenging but rewarding underground mining sector.