Newcrest Mining Seeks Acquisitions
Jun 4 15
Newcrest Mining Limited (ASX:NCM) is looking for acquisition opportunities. Newcrest Mining may also be back on the acquisition trail. Newcrest has recruited Michael Nossal as Chief Development Officer, with responsibility for mergers and acquisitions, hinting at a potential new focus on acquisitions and growth.
Newcrest Mining Limited Announces Management Changes
Jun 2 15
Newcrest Mining Limited announced changes to senior leadership team. Michael Nossal, Chief Development Officer, will commence on 6 July 2015. Reporting to Mr. Biswas, Michael will be accountable for Business Development (including M&A), Projects and Studies, Global Exploration, Minerals Resource Management and its West African operations and regional growth. Fraser MacCorquodale will remain as Head of Exploration, reporting to Michael. Fraser has 27 years of exploration experience, the majority of which have been at Newcrest. Craig Jones will assume the role of Executive General Manager - Cadia & MMJV, effective 6 July 2015, and will continue to report to Mr. Biswas. Craig will be accountable for its Cadia operation, the Morobe Mining JV (which includes the Golpu project) and the Port Moresby office. Phil Stephenson has been appointed to the role of Executive General Manager - Gosowong & Telfer, effective 6 July 2015. Reporting to Mr. Biswas, Phil will be accountable for Newcrest's Gosowong and Telfer operations, in addition to the group's Asset Management function. Phil joined Newcrest in 2014 and has extensive international mining operations experience, with 29 years in the industry working for some of the mining companies including Newmont Mining Corporation, Barrick Gold Corporation and Placer Dome Inc. Phil will retain the accountabilities of his current role as General Manager Health, Safety, Environment and Security, until a new appointment for that role is made. An external search is underway and the role will continue to report directly to Mr. Biswas. Craig Jetson, General Manager - Lihir Operations will now report directly to Mr. Biswas, effective 6 July 2015, in recognition of the Company's focus on maximising the potential of Lihir. Gerard Bond, Finance Director and Chief Financial Officer, retains his existing accountabilities across the Commercial and Finance group which includes: Finance and Accounting, Commercial and Planning, Marketing, Supply and Logistics, IT, Treasury and Investor Relations. Francesca Lee, Executive General Manager - General Counsel and Company Secretary, retains her existing accountabilities across Legal, Company Secretariat and External Affairs. Jane Thomas, Executive General Manager - People & Community, retains her existing accountabilities across Human Resources and Community. Colin Moorhead, Executive General Manager - Minerals, will be leaving Newcrest on 31 August 2015, after a handover period to Michael Nossal. Colin has been with Newcrest for 28 years after joining as a graduate geologist in 1987. David Woodall, Executive General Manager International Operations will be leaving Newcrest on 31 July 2015 after a handover process. He has advised Newcrest that he will be pursuing opportunities that enable him to be closer to his home base of Perth. From 6 July 2015, the company's Executive Committee will comprise: Sandeep Biswas, Managing Director and Chief Executive Officer; Gerard Bond, Finance Director and Chief Financial Officer; Craig Jones, Executive General Manager - Cadia & MMJV; Phil Stephenson, Executive General Manager - Gosowong & Telfer; Michael Nossal, Chief Development Officer; Jane Thomas, Executive General Manager - People & Community; and Francesca Lee, Executive General Manager - General Counsel & Company Secretary.
Newcrest Interested in Buying out Harmony’s Golpu Stake
May 25 15
Newcrest Mining Limited (ASX:NCM)'s Chief Sandeep Biswas says he would be willing to buy out his 50% partner, Harmony Gold Mining Company Limited (JSE:HAR), in the $2.3 billion Golpu copper and gold development in Papua New Guinea if the stake came on to the market. Harmony Gold is looking at strategic options to fund the Golpu project that makes up nearly 50% of Harmony’s reserves, including splitting the company. Harmony management has bemoaned the fact that Golpu’s value is not reflected in the share price and says while the deposit is not on the block it would sell for the right price. “It’s not on the block, but if somebody were really cheeky and wanted to pay lots of money for it, that’s something that would have to go the board, and, because it takes up 50 per cent of reserves, probably not only board but shareholder approval,” Harmony Chief Graham Briggs said.