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African Barrick picks Intrepid Mines CEO to succeed Hawkins

21st August 2013

By: Leandi Kolver

Creamer Media Deputy Editor

  

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JOHANNESBURG (miningweekly.com) – Tanzania-focused gold producer Africa Barrick Gold (ABG) on Wednesday announced that its CEO, Greg Hawkins, had resigned with immediate effect to pursue other opportunities.

Bradley Gordon, the CEO of Australia’s Intrepid Mines, has been picked as Hawkins’ successor. He will resign as a director of Intrepid on August 25.

London-based Liberum Capital commented that Gordon was stepping into a challenging position as CEO of a company with significant structural issues, mostly related to its social licence to operate. It stated, however, that his experience working with difficult operations, such as the Porgera gold mine, in Papua New Guinea, should help to offset his lack of African experience.

“The real test will be whether or not Gordon can deliver the operational cost savings which Hawkins started, and we should start to see the benefits of this by the fourth quarter of this year,” Liberum said. 

ABG chairperson Kelvin Dushnisky said that he was pleased to welcome Gordon as the company’s new CEO.

“We have recently announced the details of our operational review, which aims to make meaningful and lasting cost reductions, optimise mine plans and drive returns. The board is confident that Gordon’s experience and track record in generating shareholder value, combined with his strong appreciation of community and employees, make him the right person to lead the company at this pivotal time," he added.

Gordon stated that he was excited to be joining ABG and would aim to put it on a path of future profitability and stability.

“I look forward to immersing myself in the business, getting to know the talented employee base and understanding the company's strengths and opportunities. It is imperative that we implement and further expand upon the initiatives identified in the operational review," Gordon said.

Edited by Mariaan Webb
Creamer Media Contract Publishing Editor

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