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.
Mountain Province Diamonds (TSX: MPVD) has appointed Mark Wall as president and chief executive officer, effective November 15, more than a month after former boss Stuart Brown stepped down.
Wall, who has more 25 years of experience in the mining industry, most recently served as CEO of Streamers Gold Mining, a subsidiary of Hong Kong-listed Shandong Gold Mining.
Prior to that, Wall held the role of chief commercial officer, then chief operating officer for Nevada Copper. He was also senior vice president and operations officer for Barrick Gold.
The Canadian miner said Wall’s experience in large joint ventures and business development will be critical in engaging with its joint venture partner, Anglo American’s De Beers.
Mountain Province’s flagship operation is its 49%-owned Gahcho Kué mine in Canada’s Northwest Territories. The remainder is held by De Beers, the mine operator.
Gahcho Kué was the centre of a covid-19 outbreak in February, which forced the companies to shut it down for 22 days.
Wall will be based in Calgary, Canada, which is also the location of the DeBeers’s offices and it is and within close reach to the Gahcho Kué mine site and Kennady exploration areas
