Canadian Mining Journal


Nevsun cuts mine life in half at Bisha; extends study timeline for Timok

Newly appointed CEO Peter Kukielski hasn’t wasted much time putting his imprint on Nevsun Resources (TSX: NSU; NYSE: NSU).

The Stanford University educated civil engineer who joined the company in May is moving quickly to put his expertise to work in re-assessing Nevsun’s strategic and capital allocation plans.

On a conference call earlier this month, the mining executive told analysts and investors that his decision to join the company “was an easy one” given its “talented people” and “two great assets” — the Bisha copper-zinc mine in Eritrea and the Timok copper-gold project in Serbia.

But the CEO, whose lengthy track record in the industry includes managing global mining assets in senior positions at larger companies, such as ArcelorMittal, Teck Resources and Falconbridge, is shifting gears at Bisha and Timok — saying his priorities are to allocate capital efficiently, while expanding and diversifying the company’s asset base.

Continue reading at The Northern Miner.