Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
First Quantum on Monday elevated director of strategy Tristan Pascall to chief operating officer and said long-time president Clive Newall will step back from an executive role but remain as a director.
First Quantum, which operates the Sentinel and Kansanshi mines in Zambia, said Pascall would assume the COO position effective Jan. 1, 2021.
Pascall was general manager of the company’s Cobre Panama mine through January 2020.
Newall, who has been president and a director of the company since its inception, will work in a non-executive capacity through the transition, the company said.
Copper and other industrial metals prices fell on Monday as a more infectious strain of the coronavirus threatened to wreak further damage on the global economy and investors ditched riskier assets.
(By Jeff Lewis)
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