Allied Nevada appoints president and CEO
TORONTO (miningweekly.com) – US miner Allied Nevada Gold this week appointed Randy Buffington as its new president and CEO with immediate effect, and retained Bob Buchan as executive chairperson to ensure Buffington had the continued support necessary for success in his new role, while he continued to oversee operations at the company’s flagship Hycroft mine, near Winnemucca in north-west Nevada.
Buffington joined Allied Nevada in February as executive VP and COO and, during the last five months, he had significantly strengthened the Hycroft operations team, realigned positions within the organisation to better suit the changing environment at Hycroft and developed systems and programmes to streamline the construction and operations teams.
“I have worked closely with Randy for the past three months and continue to be impressed with his ability to quickly grasp the issues and develop strategies to deal with them. I feel very confident that, under his leadership, the company will reach its potential and, as such, I wholeheartedly endorse the board's decision to promote him to president and CEO,” Buchan said.
At the end of April, Allied Nevada said it was reviewing the $1.24-billion expansion of the Hycroft mine, saying it was mulling a phased approach to reach the intended 130 000 t/d milling capacity once a first phase was operating to plan.
The company said it might now rather build a 75 000 t/d plant in 2015. The benefit would be to have more time to optimise the engineering, which could result in reduced capital expenditure when the time was right to construct the second phase.
The Phase 1 plant would, at first, only process higher-grade oxide and transition ore, leach that ore on site and only produce sulphide concentrate in line with demand.
Many gold and silver miners recently announced cost-cutting measures to try to protect their earnings in the face of falling precious metal prices.
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