Nevada Gold Mines Turquoise Ridge has replaced General Manager Jason Morin with Phoenix General Manger Detlev van der Veen. The managerial shift occurred effective Feb. 10, 2020. Morin held the position for less than a year.
According to a Feb. 10 email statement regarding the change, the joint venture between Barrick and Newmont has been challenging. “Since the formation of the JV, we have been reviewing our organization to better understand how the business should be structured to operate efficiently and effectively. As a business, we are constantly working to improve our operations and with that inevitably brings change.”
Barrick and Newmont formed a joint venture last year with Twin Creeks and Turquoise Ridge mines joining forces as a result of a joint venture between Newmont Goldcorp and Barrick combining their respective operations in Nevada. The joint venture took effect July 1, 2019.
The joint venture company, Nevada Gold Mines, is looking to capture synergies, which officials are estimating at up to $500 million per year during the first five years. Morin told Humboldt County Commissioners at the July 22, 2019 meeting that “The objective of the whole JV is to add value to the business.”
The joint venture is the world’s largest gold-producing complex, with three of the world’s top 10 Tier One gold assets — Goldstrike/Carlin, Cortez and Turquoise Ridge/Twin Creeks. Barrick owns 61.5% and operates the complex, while Newmont Goldcorp’s stake is 38.5%.
In the Jan. 10, 2020 email, a company spokesperson wrote, “One of the principles behind founding the joint venture was to have a more flexible and agile organization that allows us to continually evaluate our operations and adapt them readily to the needs of our business. These organizational changes are an example of that concept in action. Detlev’s strong leadership skills and experience will be beneficial to the team at Turquoise Ridge to further execute on our business plan.”