{"id":6411,"date":"2020-08-13T19:32:11","date_gmt":"2020-08-13T19:32:11","guid":{"rendered":"https:\/\/aboriginalbusinessmagazine.com\/?p=6411"},"modified":"2020-08-13T19:34:09","modified_gmt":"2020-08-13T19:34:09","slug":"chinese-miner-hires-canadian-ceo-as-review-continues-on-nunavut-gold-mine-buy","status":"publish","type":"post","link":"https:\/\/aboriginalbusinessmagazine.com\/?p=6411","title":{"rendered":"Chinese miner hires Canadian CEO as review continues on Nunavut gold mine buy"},"content":{"rendered":"

TORONTO-The Chinese company trying to buy TMAC Resources Ltd. has appointed a Barrick Gold Corp. veteran as CEO of its Canadian operations even though the deal is still being reviewed by Ottawa.<\/p>\n

Hong Kong-traded Shandong Gold Mining Co. Ltd. says it has appointed Mark Wall as CEO of Streamers Gold Mining Corp. Ltd., its wholly owned subsidiary in Canada.<\/p>\n

Shandong’s $230-million offer to buy TMAC, owner of the Hope Bay mining project in Nunavut, has received Chinese regulatory approvals and TMAC shareholders voted in favour of it in June.<\/p>\n

The Commissioner of Competition has issued a “no action”\u00a0letter, but it is still being reviewed under the Investment Canada Act and Ottawa could veto the deal if it finds it would harm national security.<\/p>\n

Wall has more than 24 years of experience in the mining industry, most recently at Nevada Copper Corp.<\/p>\n

During a 12-year stint at Barrick that ended in 2018, the Canadian citizen served as executive general manager of the Veladero gold mine in Argentina. Shandong bought a 50 per cent stake in the mine in the high Andes mountains three years ago.<\/p>\n

“We have worked closely with Mr. Wall during our successful partnership with Barrick Gold and welcome him to lead our Canadian business,” said Liu Qin, director of Shandong Gold, in a news release.<\/p>\n

“His extensive background in the industry will serve us well in Nunavut, beginning with the development of an expansion feasibility study aimed at doubling the output at Hope Bay.”<\/p>\n

This report by The Canadian Press was first published June 16, 2020.<\/em><\/p>\n

Companies in this story: (TSX:ABX, TSX:TMR)<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

TORONTO-The Chinese company trying to buy TMAC Resources Ltd. has appointed a Barrick Gold Corp. veteran as CEO of its Canadian operations even though the deal is still being reviewed by Ottawa. Hong Kong-traded Shandong Gold Mining Co. Ltd. says it has appointed Mark Wall as CEO of Streamers Gold Mining Corp. Ltd., its wholly …<\/p>\n","protected":false},"author":4,"featured_media":6413,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"pmpro_default_level":""},"categories":[32,39],"tags":[],"yoast_head":"\nChinese miner hires Canadian CEO as review continues on Nunavut gold mine buy - Aboriginal Business Magazine<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/aboriginalbusinessmagazine.com\/?p=6411\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Chinese miner hires Canadian CEO as review continues on Nunavut gold mine buy - Aboriginal Business Magazine\" \/>\n<meta property=\"og:description\" content=\"TORONTO-The Chinese company trying to buy TMAC Resources Ltd. has appointed a Barrick Gold Corp. veteran as CEO of its Canadian operations even though the deal is still being reviewed by Ottawa. 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