Detour names former Stillwater exec its new CEO
Gold mining company Detour Gold has announced that Mick McMullen – the former CEO of Stillwater Mining Company – will take over as its CEO from May 1.
McMullen is succeeding Bill Williams, who was named interim CEO in January, following a proxy battle with Paulson & Co. He replaced Michael Kenyon, who Paulson wanted removed from his position.
Interim board chairperson, Dawn Whittaker, commented that McMullen’s appointment would “greatly benefit” Detour.
McMullen has more than 25 years of international experience in the mining industry with an accomplished background in all aspects of the mining business, including exploration, permitting, mine development, financing, operations, product sales, and asset acquisition and divestments, as well as the debt and equity markets. He has managed multiple operations across multiple jurisdictions.
Since 2018 McMullen has been a senior adviser to Black Mountain, a private company engaged in identifying and capturing high-growth opportunities within the natural resource space.
He was CEO and a director of platinum and palladium producer Stillwater from 2013 to 2017, prior to its acquisition by South Africa's Sibanye Gold for an equity value of $2.2-billion.
McMullen said in a statement that he was excited to be join Detour, noting that the company had a “unique asset with a long mine life in a low-risk jurisdiction that has the potential to deliver significant value to shareholders”.
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