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ABG boss resigns, another assigned

By Correspondent
8th March 2013
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Barrick Group

 WORLD’S largest gold miner, Barrick Group is replacing its executive director and chief financial officer in Tanzania Kevin Jennings with the firm’s vice president of finance Jaco Maritz, following the former’s decision to resign.

Barrick, which operates in Africa as ABG and which is listed on the London Stock Exchange (LSE) as well as on the Dar es Salaam Stock Exchange (DSE) made the announcement yesterday in a statement to capital market regulators. 

“…ABG today announces that Kevin Jennings, executive director and chief financial officer of ABG has given notice that he intends to leave the company in order to take up a similar role at another mining company...,” explained the statement. 
 
The mining firm however said that Jennings will remain with ABG as part of the team overseeing the completion of the initial stages of an operational review while Maritz assumes tbe former’s responsibilities. 
 
Jennings resignation comes barely a week following the appointment of Derek Pannell’s replacement, Kelvin Dushnisky, the current senior executive vice president of Barrick Gold Corporation, as chairman of ABG’s board of directors. 
 
ABG operates four mines in Tanzania, Bulyanhulu, Buzwagi, Tulawaka and North Mara and a number of other exploration projects in the region as well as in neighbouring Kenya which is at the moment, going through their general election. 
 
“... I have taken real pleasure over the past three years in seeing the business develop and believe ABG will continue to build on the strong platform we have established…,” bid Jennings.
 
In January, the mining firm announced that it had ended discussions with China National Gold Group Corporation which wanted to purchase a 73.9 per cent stake in ABG and in October last year, it said that it completed the acquisition of Aviva Mining Kenya for A$20m ($20.54m). 
 
It opted not to sell all or part of its 74 per cent stake in its Tanzanian subsidiary Africa Barrick Gold (ABG) to China’s largest gold producer, China National Gold Group Corp (CNGG).  
 
SOURCE: THE GUARDIAN