Swapping aluminum for copper will maintain China’s resources, group says
China depends on overseas imports for 60% of its aluminum resources as opposed to 70% of its copper resources.
The world’s largest mining company, BHP Billiton (ASX, NYSE:BHP) (LON:BLT) announced today that Ken MacKenzie has been elected to succeed long-serving Chairman Jac Nasser.
Following a formal process led by Senior Independent Director, Shriti Vadera, the new chairman will assume his post on September 1, 2017.
Former CEO of global packaging company Amcor, MacKenzie joined the BHP board as a non-executive director in September 2016 and is a member of its Sustainability Committee.
The Canadian executive, who lives in Australia, has over 23 years of international business experience and, according to Vadera, “has a proven track record of delivering value for shareholders.”
His appointment comes after Australian Nasser, who was a board member for over 10 years and was appointed chairman in 2010, announced his retirement in October last year. Nasser wanted to retire earlier, but he chose to stay on while BHP dealt with the aftermath of the Samarco mine disaster in Brazil, which claimed 19 lives and caused widespread environmental damage.
In a press release, the outgoing executive dubbed MacKenzie’s election “an excellent choice” and thanked BHP’s CEO, Andrew Mackenzie, for his “vision and hard work to help deliver significant change over the past four years.”
Comments
toorightmate
I hope he does well.
It is now 25 years since BHP had a good Chairman and 30 years since it had a good CEO.
The sooner the Rio reject has gone from the CEO position, the better.