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.
De Beers Group has decided to merge its mining assets in Canada and South Africa under the name De Beers Group Managed Operations. The change is expected to create a more sustainable business and to streamline operations in both countries.
De Beers announced the change as its mining footprint in both countries is shrinking due to the closure of the Snap Lake mine in Canada’s Northwest Territory and South Africa’s Voorspoed mine plus the already announced closure in May of the Victor mine in Ontario.
Mpumi Zikalala
The new managing director of De Beers Group Managed Operations will be Nompumelelo (Mpumi) Zikalala. She and the management team will work out of offices in Johannesburg. Joining her is Allan Rodel as head of operations. Additional support services will be maintained in Canada. Zikalala’s responsibilities will include those currently held by Phillip Barton, CEO of De Beers Consolidated Mining, and Kim Truter, CEO of De Beers Canada. Both men are leaving the organization to focus on new opportunities.
This story first appeared in Canadian Mining Journal.
Comments
Bob Hall
“focus on new opportunities”. This phrase should be copywrited because it is way overused. These are capable folks but I do not think they have anything in sight just yet.