CHARTS: The coming critical minerals trade war is BRICS short of a load
"While a large number of countries around the world continue to talk about securing raw material supply, China is actually doing something about it."
Detour Gold said on Thursday it has picked Paulson & Co-backed nominee Bill Williams to be its interim chief executive officer, replacing Michael Kenyon.
The Canadian gold miner was previously involved in a months-long proxy fight with billionaire John Paulson’s hedge fund, which pushed for a complete overhaul of the board and Kenyon’s resignation.
Williams is a mining industry veteran and was a former CEO of gold and copper miner Orvana Minerals Corp.
He was one of five members elected to the Detour Gold board at a special shareholders meeting held on Dec. 13. These nominees were backed by Paulson, which alleged that under the leadership of Kenyon the company had “unsuccessfully tried to boost short-term performance”.
Shares of the company were up 1.5 percent at C$11.93 in early trade.
(Reporting by Shanti S Nair in Bengaluru; Editing by Shinjini Ganguli)
