Who Won the Title of MINING CEO of the year?
Thursday December 22, 2016 11:01
Editor's Note: Kitco News has officially launched its 2017 Outlook where we ask if this is the start of a new Raging Bull market. Be sure to catch all our coverage here, which includes gold forecasts, special technical reports and of course, our popular Invest Like The Experts Series. We will also be launching a new feature so be sure to stay tuned!
(Kitco News) - Kitco News launched a new feature this year as part of its outlook series in an effort to give our fans a voice!
After a few weeks of voting, we have finally tallied up the results to unveil who our readers and viewers think were the most fascinating individuals of this past year. After sifting through thousands of responses, we finally have tallied your choice for the mining world’s top commander-in-chief.
Rob McEwen – CEO, McEwen Mining (TSE, NYSE: MUX)
Rob McEwen has been behind some of the biggest mining companies in the industry. First founding Goldcorp in the ‘90s –transforming the company from a collection of small companies into a mining power house . A standout and much-talked about move was when McEwen launched the Goldcorp Challenge, sharing with the public the company’s geological data with the offer of $575,000 in prizes to those who could help locate the Red Lake mine’s next 6 million ounces of gold. More than 80 percent of the sites discovered yielded significant gold reserves.
Currently, McEwen is the chief executive and chairman of his own company, McEwen Mining (TSE: MUX). A believer that management should be as personally invested in a company as its shareholders, he owns 25% of the outstanding shares of McEwen Mining; he receives no salary.
This year, McEwen hit a major milestone by getting the stock (TSE: MUX) above $1 at the start of 2016. The company is now preparing to end the year with positive free cash flow, no debt and over $70 million in the treasury.
As for a personal milestone, this January McEwen will be inducted into the Mining Hall of Fame. Past great feats include his appointment to the Order of Canada, the country's highest civilian honor.
McEwen has donated in excess of $60 million, some of which went to the McEwen Centre for Regenerative Medicine at the Toronto General Hospital and the Schulich School of Business, Toronto, Ontario, Canada.
Our readers voted noting that he is “an investor’s ideal CEO,” while one reader wrote, “He is dedicated to his company and their shareholders.” Another wrote, “He constantly makes the right moves.”
In a tight race, the runner-up is Keith Neumeyer of First Majestic (NYSE: AG; TSX: FR).
Readers commented: “He knows the mining space and knows the market really well.” And, “He thinks outside the box and has done wonders at First Majestic.” “He has great managing skills, and has created a lot of wealth for his investors.