Ignacio Bustamante has announced his resignation as CEO of South America-focused Hochschild Mining to relocate to London, where he will head up the base metals division of private capital provider Appian Capital Advisory.

Bustamante, who has served as Hochschild CEO since 2013, will resign with effect from August 26.

COO Eduardo Landin will succeed Bustamante as CEO, while director of technical services, Rodrigo Nunes, will become COO.

"The board and I want to thank Ignacio for his steadfast leadership during his 13-year tenure as CEO,” said chairperson Eduardo Hochschild.

“During this period, we consolidated our Peruvian operations, developed the Inmaculada mine and more recently acquired the Mara Rosa project which will be Hochschild's first operation in Brazil. We have also achieved significant exploration success over the last decade at all our operations in Peru and Argentina. Ignacio's leadership has been exemplary, and we are grateful that he has decided to remain in his position during the final stages of securing the Inmaculada MEIA. We look forward to benefiting from his experience and knowledge of the company and our strategy as a nonexecutive director."

Commenting on his successor’s appointment, Bustamante said he had worked with Landin for 15 years. “I'm confident the company will continue to achieve operational and financial success under his tenure. He is supported by a talented and highly experienced team that has been a driving force behind our achievements to date.”

Meanwhile, Bustamante will oversee Appian’s operations and growth strategy across all base metals, with responsibility for acquisitions, development and operations.

Base metals and decarbonisation commodities, including zinc, copper and nickel, are a core focus for Appian, and Bustamante will play a central part in strengthening the company’s position in this area, the London firm states.

Appian points out that Bustamante, who is a Peruvian national, has significant experience managing operations in Latin America, with particularly strong leadership expertise and an extensive knowledge of financial and operational management.

“Ignacio is a fantastic addition to the Appian team and will play a key role in developing our base metals business. His significant management and operational expertise will be invaluable as we embark upon our next phase of growth, while his deep experience and relationships in Latin America will support our expansion in the region,” Appian founder and CEO Michael W. Scherb comments.

"As one of the most experienced and respected mining executives globally, Ignacio’s appointment also reflects the strength of Appian’s business and its ability to attract market-leading talent. Base metals remain a core focus for Appian and we are incredibly well placed to benefit from the energy transition and drive robust investor returns.”