Published: January 20, 2025 |

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Dev Shetty
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Aberdeen International has appointed Dev Shetty as chief executive officer and executive chairman of the board of directors. Shetty’s appointment follows Fred Leigh’s resignation as chief executive officer of the company, though Leigh will remain on the board.

The appointment of Shetty is part of the board’s strategy to revamp the company’s investment strategy and to establish a new investment platform focused on identifying and acquiring assets in energy transition metals, precious metals, base metals, and gemstones. As part of this new strategy, Shetty intends to onboard an executive team with extensive experience acquiring and managing mining assets.

“I am excited about this appointment, and with my team of mining talent, we look forward to building Aberdeen into a significant force in the mining sector. We are currently evaluating some exciting opportunities where attractive valuations are available, given where the resource sector is positioned,” said Dev Shetty.

“With the talent pool we are building, we will support portfolio companies with the operating talents required to create value for the company. I want to thank the board of Aberdeen and Fred Leigh for this appointment,” added Shetty.

Dev Shetty is a chartered accountant and has extensive experience in private equity, mining, and corporate turnarounds. His expertise includes direct hands-on management of all phases of diverse mining projects and he has a particular expertise in acquiring, and transforming and monetizing mining projects into valuable assets.

In private equity, Shetty has successfully acquired and revitalized key mining assets, including a manganese and platinum mine in South Africa and an iron ore mine in Australia. As founder and former CEO of Fura Gems Inc., he transformed the Fura Gems into the only company with all three major color gemstones in its portfolio and turned mines in Colombia, Mozambique, and Australia into revenue-generating operations. He is credited with the turnaround of Gemfields Group Limited, where he was instrumental in developing the world’s largest emerald mine in Zambia and the world’s largest ruby deposit in Mozambique. Shetty joined the board of Prospect Resources in 2020 and collaborated with the management and board to create a new strategy for the company. In 2022, Prospect announced the sale of its Arcadia Lithium in Zimbabwe at a total valuation of $330 million and a 1,500 percent share price appreciation over 6 years for Prospect shareholders.

Aberdeen International is a global resource investment company and merchant bank focused on small capitalization companies in the rare metals and renewable energy sectors.

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