- Write by:
-
Thursday, September 14, 2023 - 16:05:03
-
119 Visit
-
Print
Mining News Pro - Harmony Gold Mining boss Peter Steenkamp plans to retire at the end of next year as South Africa’s biggest gold producer by volume seeks new growth opportunities mining copper.
Steenkamp, who turns 64 in November, has been at the helm at Harmony since returning in 2016. In 2022, the company extended the veteran gold mining executive’s tenure by two years.
Steenkamp will leave around December 2024 and the company has “strong internal candidates to continue what we have built since 2016,” spokesperson Jared Coetzer told Reuters.
Steenkamp’s pending exit doesn’t change the strategy to shift to developing copper assets and looking for deals to grow the company, Coetzer added.
“There are various internal candidates who would have to go through the nomination process and ultimately it would be a board decision,” Coetzer said.
Harmony is among South Africa’s few remaining gold miners squeezing profits from some of the world’s most costly, ageing and deepest gold mines.
It could be “difficult to find outsiders with deep-level gold mining experience” to run the company, analysts at RMB Morgan Stanley said in a note.
The Johannesburg-based producer has shifted focus to developing new gold-copper assets in Australia and Papua New Guinea as profits at home are hit by safety challenges at underground mines, rolling electricity outages and rising crime.
Harmony plans to spend about $600 million to build a new mine at the Eva copper project in Australia it bought last year.
It also plans to advance the Wafi-Golpu copper project in Papua New Guinea, jointly owned with Newcrest Mining, once the country’s authorities grant regulatory approvals.
Short Link:
https://www.miningnews.ir/En/News/627359
Barrick Gold Corp.’s chief executive officer says the gold miner will continue to host virtual-only annual general ...
China’s copper producers are planning to export up to 100,000 metric tons of metal, the largest volume in 12 years, ...
A takeover of Anglo American Plc would need to be pitched at more than £30 ($37.6) per share, a higher price than BHP ...
Barrick Gold is not interested in bidding for Anglo American, which last week received a $39 billion takeover offer from ...
Canadian miner Barrick Gold on Wednesday beat first-quarter profit estimates on higher bullion prices and said it has ...
Barrick Gold faced criticism outside its annual general meeting on Tuesday in Toronto for supporting Malian rulers with ...
BHP Group can’t cherry pick Anglo American assets without paying a hefty premium, Anglo investors told Reuters, ...
Anglo American faced calls from shareholders on Monday to detail plans for improving its value in order to fend off ...
Copper slipped after initially extending gains above $10,200 a ton as traders turned their attention to demand ...
No comments have been posted yet ...