Business
Capstone Mining Streamlines Management Structure
Capstone Mining Streamlines Management Structure Canada NewsWire VANCOUVER, Nov....
About this update from Capstone Copper Corp.
[{"type":"text","content":"\n\n\n\nCapstone Mining Streamlines Management Structure\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, Nov. 8, 2018\n\n\n\nVANCOUVER, Nov. 8, 2018 /CNW/ - Capstone Mining Corp. (\"Capstone\" or the \"Company\") (TSX:CS) today made reductions to its organizational structure, including changes to its senior executive team. This is designed to improve financial and operating performance by further empowering mine general managers and their teams to deliver profitable, safe and sustainable production within their respective business units. \nCapstone has eliminated 35% of positions from its head office in Vancouver and expects to reduce annual corporate general and administrative expenses by approximately US$5 million per year.   \n\"We are committed to seeing our portfolio of assets achieve their full potential and deliver industry leading returns for our shareholders,\" said Darren Pylot, President and Chief Executive Officer of Capstone. \"These changes will help us streamline support to our operating teams as well as drive a sense of ownership, with each operation functioning as an independent business unit. The corporate team will focus on the significant organic growth opportunities within our portfolio.\"  \nAs a part of the Company's executive leadership transition, Gregg Bush, Senior Vice President and Chief Operating Officer will retire from the Company at the end of the year. At this time Capstone does not anticipate filling the role of Chief Operating Officer in this decentralized operating model. \nAbout Capstone Mining Corp.\nCapstone Mining Corp. is a Canadian base metals mining company, focused on copper. We are committed to the responsible development of our assets and the environments in which we operate. Our two producing mines are the Pinto Valley copper mine located in Arizona, US and the Cozamin polymetallic mine in Zacatecas State, Mexico. In addition, Capstone has the large scale 70% owned copper-iron Santo Domingo development project in Region III, Chile, in partnership with Korea Resources Corporat...