Newcrest Mining is shaking things up at the top, with two senior executives leaving the business.
Executive General Manager for Minerals Colin Moorehead is leaving Newcrest after 28 years, along with the company’s head of International Operations, David Woodall.
Michael Nossal, a former MMG executive, will take up the newly-created role of Chief Development officer, assuming responsibility for all business development, exploration and study activities.
Meanwhile, Craig Jones will assume the role of Executive General Manager of Cadia and MMJV, while Phil Stephenson has been appointed to the role of Executive General Manager of Gosowong and Telfer.
In other changes, Craig Jetson, General Manager of Lihir Operations, will now report directly to Biswas in recognition of the company’s focus on maximising its potential.
Biswas said all the announced changes in the organisation reflect the increasing intensity of efforts on progressing the Golpu project, to create a single point of accountability for the Lihir turnaround, and to increase attention on driving further improvements in existing operations.
Newcrest purchased the Lihir gold mine in Papua New Guinea for about $10 billion in 2010, but the asset has underperformed as a result of poor operating performance.
The mine took a $3.49 billion write-down in 2013 and a $2.65 billion impairment charge in 2014.