An intermediate gold mining company, with a portfolio spanning Canada, the United States and Mexico, has announced a new President and CEO with rumours circling of a major asset sale.
New Gold has announced in a statement this week that it has appointed Renaud Adams as the new President and Chief Executive Officer of the company.
Adams’ new role is effective as of 12 September 2018 and he brings with him a wealth of experience having had multiple executive roles. Prior to his appointment, Adams was the President and CEO of Richmont Mines until it was sold to Alamos Gold last year.
During his tenure, Richmont’s flagship operation saw production levels double, mineral reserves triple and costs reduced, transforming the Island Gold Mine in Ontario into one of the lowest cost operating underground operations in the Americas.
He has also served as COO of Primero Mining Corporation and General Manager at IAMGOLD corporation.
"We are very pleased that Renaud will be joining our team as President and CEO," stated Ian Pearce, Chair of the Board of New Gold. "His extensive experience in the gold sector and operational background will be of tremendous benefit, and his proven track record of delivering on production and costs will be invaluable as we advance the Company's corporate strategy."
"I am excited to be working with the team at New Gold," stated Mr. Adams. "l look forward to the significant opportunities we have as we continue to improve operational performance at Rainy River, increase cash flow at all operations, and create value for our shareholders through a disciplined approach to both productivity and value creation from our portfolio of long-life assets."