Beford report lists mining’s high paid executives and administrators

The highest incomes mining government was Mark Rosenthal, the COO and former chairman and CEO of MP Supplies at C$29 million, which was 16.8% larger than the highest paid government a yr earlier.

Barrick Gold’s Mark Bristow got here in third at C$22.9 million, behind Cleveland-Cliffs’ Laurenco Goncalves (C$23.4 million) and forward of Freeport McMoRan’s Richard Adkerson (C$21.1 million) and Rio Tinto’s Jean-Sebastien Jacques (C$16.8 million).

Chief working officers had been additionally effectively compensated. P. Harvey of South32 acquired a complete of C$15.6 million, adopted by Barrick’s Catherine P. Uncooked (C$7.2 million). The following highest-earning COOs had been Robert Atkinson at Newmont (C$6.7 million), Clifford Smith at Cleveland-Cliffs (C$5.5 million) and Tracy L. Porter at Industrial Metals Firm (C$5.4 million).

Porter was not the very best paid feminine government. That honour went to Karla R. Lewis at Reliance Metal & Aluminium who earned C$13.2 million. That was greater than double the very best compensation for a lady (C$6.4 million) within the 2020 report.

The listing of well-compensated chief monetary officers is lead by Nucor’s James D. Frias (C$10.4 million) after which Barrick’s Graham Shuttleworth (C$9.2 million), Anglo American’s Stephen Pearce (C$8.2 million), and Freeport McMoRan’s Kathleen L. Quirk (C$8.2 million). The highest 5 on this class additionally included MP Supplies’ Ryan Corbet (C$7.5 million).

Vice-presidents of company improvement additionally play an important function for his or her employers. The highest 5 had been all from Canadian miners, starting with Geoffrey P. Gold at Kinross Gold who acquired C$4.5 million. The listing continues with Agnico Eagle Mines’ Jean Robitaille (C$3 million), Wheaton Valuable Metals’ Haytham H. Hodaly (C$2.5 million), Yamana Gold’s Gerardo Fernandez (C$2.2 million), and in fifth place, Hudbay Minerals’ Eugene Lei.

The report discovered that compensation for board members different broadly throughout the businesses they lined. Sometimes, it features a base retainer, committee and/or assembly charges, and fairness compensation (shares and choices).

One of the best-paid board member was Anne Giardini at K92 Mining, who acquired C$2.2 million. Galiano Gold paid Paul Wright C$2 million; Antofagasta paid Jean Paul Luksic C$1.3 million; Marimaca Copper paid Michael Haworth C$1.2 million; and Stuart Chambers at Anglo American acquired C$1.2 million.

That is Bedford’s 12th annual report protecting remuneration within the mining trade, offering insights and evaluation, with explicit emphasis on Canadian corporations. It may be downloaded right here.

(This text first appeared in The Northern Miner)

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