Category: Mining Personality

The Biden administration is expected to reverse an 11th-hour move by the Trump administration to temporarily ease sanctions on Israeli billionaire Dan Gertler after an uproar among lawmakers as well as government officials who were left out of the decision-making process, two people familiar with the matter said. The U.S. sanctioned Gertler and his companies in 2017 for allegedly corrupt mining and oil deals in the Democratic Republic of Congo. But in his final days in office, President Donald Trump’s Treasury secretary, Steven Mnuchin, issued a license which, while not… Read More Here

Rio Tinto (ASX, LON, NYSE: RIO) unveiled its new executive team on Wednesday, under a new organizational structure to rebuild trust following an international outcry over the miner’s destruction of sacred Aboriginal rock shelters. Rio Tinto’s chief executive Jakob Stausholm – who assumed the role this month, replacing Jean-Sébastien Jacques after the destruction of sacred Aboriginal caves, has appointed a permanent chief executive of the iron ore business, created a chief operating officer (COO) role, and added a chief executive, Australia to his leadership team. Simon Trott, currently chief commercial officer, will become iron ore chief… Read More Here

Former US president Donald Trump quietly eased sanctions on Israeli billionaire Dan Gertler, related to alleged corruption and abusive mining practices in the Democratic Republic of Congo, just five days before leaving the White House. The order, issued on Jan. 15, followed an appeal by lobbyists working for Gertler, including lawyer Alan Dershowitz, who helped represent Trump during his first impeachment, The New York Times reported. Washington sanctioned Gertler in 2017 under the Global Magnitsky Human Rights Accountability Act, which froze any US assets he held and banned him from dealing in US dollars or with any… Read More Here

THE performance of three of Johannesburg’s largest mining shares by value in 2021 will have much to do with a new generation of CEOs, one of which has already been named. A permanent change of management is imminent for two of bourse’s largest gold companies, AngloGold Ashanti and Gold Fields, whilst at Glencore, the global diversified miner, Gary Nagle is to replace CEO, Ivan Glasenberg. A fourth firm, Rio Tinto, replaced its CEO Jean-Sébastien Jacques with Jakob Stausholm. Although not listed in Johannesburg, its direction of travel will be illustrative of industry-wide problems… Read More Here

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,… Read More Here

Glencore has announced that Ivan Glasenberg will retire as CEO and as a member of the Glencore Board during the first half of 2021. Gary Nagle will then become the Glencore CEO and join the Board. Nagle intends to relocate from Australia to Switzerland early next year and will work with Glasenberg to effect the transition. Commenting on the succession process, Tony Hayward, Chairman says: “The Board has worked with Ivan over the past two years to oversee a seamless transition to the next generation of leadership across Glencore’s business.… Read More Here