Shuffling the deck: Rio Tinto mixes up leadership team
Stephen McIntosh will succeed Greg Lilleyman, who will leave the company after 25 years of servic...
Rio Tinto has announced a major managerial reshuffle.
Stephen McIntosh will succeed Greg Lilleyman, who will leave the company after 25 years of service, as the acting Group executive, Technology & Innovation.
Rio Tinto chief executive Sam Walsh said: “Stephen is a highly respected member of Rio Tinto’s senior leadership ranks and brings to his new role a breadth of experience across multiple commodities and geographies. For a long time now, our T&I function has provided a point of strategic differentiation for Rio Tinto and Stephen will spearhead the Group’s drive for further productivity improvement across the business.”
Lilleyman made a significant contribution to the development of the company’s Pilbara operations, where he has spent the majority of his time with the business. He also held senior operational roles in the Hunter Valley of NSW and Canada.
Walsh added: “Greg has had a long career with Rio Tinto and played an important role in the development of our industry leading Mine of the Future™ programme in our Pilbara iron ore operations and has led our productivity drive. We wish him well for the future.”
McIntosh has been with Rio Tinto for almost 30 years working on projects in more than 45 countries spanning the A-Z of minerals and metals. Most recently, he was head of Exploration, leading a 450-strong global team of employees operating in 20 countries.
Prior to this, McIntosh led Rio Tinto’s Project Generation Group for six years and transformed its activities to build a world-leading team of commodity, technical and ore body knowledge experts.
More information on Rio Tinto’s executive can be found at:www.riotinto.com/aboutus/executive-committee
Read the May 2016 issue of Mining Global magazine
Newmont acquires Canada’s GT Gold in $325mn deal
Newmont, the world’s biggest gold miner, has acquired Canada’s GT Gold in a deal worth $325mn. The gold giant now controls the Tatogga gold-copper project in the Traditional Territory of the Tahltan Nation.
“With the acquisition of GT Gold and the Tatogga project in the highly sought-after Golden Triangle district of British Columbia, Canada, Newmont continues to strengthen our world-class portfolio,” commented Newmont President and CEO Tom Palmer.
“We look forward to continuing to build a respectful and meaningful relationship with the Tahltan Nation, including the community of Iskut. The relationships we have with Indigenous communities, First Nations and host communities are critical to the way we operate. We will partner with the Tahltan Nation at all levels, and with the Government of British Columbia to ensure a shared path forward as the Company understands and acknowledges that Tahltan consent is necessary for advancing the Tatogga project.”
Newmont’s acquisition includes the Tatogga project, comprised primarily of the Saddle North deposit, which has the potential to contribute future significant gold and copper annual production. There are also further exploration opportunities beyond the known deposits at Saddle North within the land package. The Tatogga project adds to Newmont’s existing interest in the prospective Golden Triangle through the company’s 50% ownership in the Galore Creek project.
Newmont is the world’s leading gold company and a producer of copper, silver, zinc and lead. A world-class portfolio of assets, prospects and talent is anchored in favourable mining jurisdictions in North America, South America, Australia and Africa. The American miner is celebrating its 100th anniversary this month.
With gold prices on the rise, the last six months has seen gold industry M&A activity accelerating. A recent Mckinsey report, advises that the industry need to be mindful of mistakes made during the previous gold price boom, when growth was chased unidirectionally by several companies.