McEwen announces COO retirement, leadership shake up

McEwen Mining (NYSE, TSX: MUX) announced on Monday the planned retirement of its chief operation officer (COO) William Shaver. Following the news release the stock dipped 1.34% Tuesday morning in Toronto.

Shaver has worked in the mining industry for over five decades, and at McEwen for four years. Upon retirement, he joined the board of directors of McEwen copper, a 46.3%-owned subsidiary of McEwen.

Rob McEwen, the company’s chief owner, said the company will name the new ramp at its Stock mine in Timmins, Ont. after Shaver in “recognition of his contribution to the growth of the company,” McEwen said. 

McEwen owns multiple large-scale gold, silver and copper projects, including the Gold bar mine in Nevada, Fenix project in Argentina and Grey Fox project near Timmins. 

Shares in McEwen fell 39¢ in early trading to $28.73 (US$20.77) apiece.

Next generation

“With our newest Stock Mine in Timmins nearing completion and El Gallo in Mexico starting construction, Bill and the Board thought it was the right time to promote the next generation of talent within the company,” McEwen added.

McEwen announced the promotion of Channa Kumarage to vice-president of operations. He assumes the position with over a decade of mining engineering and leadership experience, including roles at Minto Metals, Alamos Gold and Goldcorp. Kumarage most recently served as McEwen’s director of technical services.

Kevin Bromfield is the company’s new vice-president of development projects. In this role he will lead engineering teams at the Fox complex, Tartan project and Gold Bar mine. 

Lastly, Zahir Jina has been promoted to vice-president of permitting, government relations and sustainability. Jina has more than 15 years experience in moving Canadian and international projects through government approval processes. In his previous role at SLR Consulting, he authored the environmental effects review for IAMGODLD’s Côté gold project.