Base metals miner Capstone has announced reductions within its organisational structure, including changes to its senior executive team.
The changes include eliminating 35% of positions from its head office in Vancouver, which would reduce corporate general and administrative expenses by about $5-million a year.
"These changes will help us streamline support to our operating teams, as well as drive a sense of ownership, with each operation functioning as an independent business unit. The corporate team will focus on the significant organic growth opportunities within our portfolio," said president and CEO Darren Pylot.
As a part of the executive leadership transition, senior VP and COO Gregg Bush will retire from the company at the end of the year. The role will not be filled at this time.
Capstone owns the Pinto Valley copper mine in Arizona, US, and the Cozamin polymetallic mine in Zacatecas state, Mexico.
In addition, Capstone has the large-scale 70%-owned copper/iron Santo Domingo development project in Region III, Chile, in partnership with Korea Resources Corporation, the Minto copper mine in Yukon, Canada currently on care and maintenance, as well as a portfolio of exploration properties.