Thunder Bay Chronicle-Journal is the daily newspaper of Northwestern Ontario.
Two multinational mining companies playing a significant role in Northwestern Ontario’s economy are being directed by former Northerners. Cliffs Natural Resources announced Friday that Sudbury native Gary Halverson is to become the company’s next president and CEO.
Halverson, 55, whose 30-year international career includes hands-on management of two gold mines in Timmins, is to assume his new position with Cliffs on Nov. 18. The CEO of Barrick Gold, which operates the renowned Hemlo deposit near Marathon, is Thunder Bay native and Lakehead University commerce graduate Jamie Sokalsky.
Halverson earned an MBA degree at Athabasca University, near Edmonton, after obtaining a metallurgy engineering degree from Michigan Technological University, on the south shore of Lake Superior.
Cleveland-based Cliffs is in the process of doing pre-development work on a proposed chromite mine in the heart of the Ring of Fire mining belt 500 kilometre northeast of Thunder Bay.
The $3.3-billion project, which is to include a Sudbury-area smelter, is to create more than 1,000 direct jobs.
Timmins Mayor Tom Laughren, who knew Halverson when he worked in mining construction, said Halverson’s appointment as Cliffs CEO is significant for the Ring of Fire project.
“He understands the territory, he knows the supply chain and he recognizes the importance of the First Nations,” said Laughren.
“Gary is a fair guy, a very knowledgeable guy,” added Laughren. “And I’m pretty sure he loves the North.”
In appointing Halverson, a former Barrick Gold executive, Cliffs noted his international experience, a track record of keeping a lid on costs and an ability to manage projects “from the construction and development phases through to the end-of-life stage.”
“His financial discipline lines up well with our focus on cost management and the major investment decisions that are on the horizon,” Cliffs’ said in a new release.
“Cliffs needs a strong leader who can manage this business through the inevitable and highly volatile cycles in a disciplined, value-enhancing manner.”
On Thursday, Cliffs reported “strong” third-quarter revenues of $1.5 billion “driven by a 17-per-cent increase in global seaborne iron-ore prices.”