Western Copper and Gold Corp T.WRN

Peter Toth Ditches his role at Rio to join Newmont

[EvenSteven27]

Bullion major Newmont will appoint Peter Toth as executive VP of strategic development in July next year.

Toth most recently served as an executive of Rio Tinto, where he was responsible for the group’s strategy, sustainability and portfolio transformation efforts.

Prior to joining Rio Tinto, he was CEO of Australian manganese and ferro-silicon company OM Holdings.

“Peter brings a wealth of global commodity experience that will benefit Newmont as we enter our next 100 years as the world’s leading gold company. Peter’s extensive background in corporate, operational and sustainability strategy will ensure we deliver our purpose of creating value and improving lives through sustainable, responsible mining,” said Newmont president and CEO Tom Palmer.

Toth holds a Bachelor of Business degree from Monash University, a Graduate Certificate in Management from Deakin University and a Master of International Business degree from the University of Melbourne, in addition to executive development programmes at INSEAD, Stanford and Oxford University.

He and his wife will reside in the Denver area. 

EDITED BY: Creamer Media Reporter

[EvenSteven27]

(RTTNews) - Rio Tinto said that Peter Toth, Group executive, Strategy and Development, has accepted a new position outside of the company. Rio Tinto noted that Peter has stepped down from the Group's executive committee with immediate effect and his responsibilities will be divided between current executives. He will remain in an advisory role until the end of 2021 and leave the company on 5

[EvenSteven27]

Two takes on this. Take 1 Rio Tinto is a copper miner and Newmont is a gold miner. Perhaps things are lining up strategically where Rio will merge their copper expertise with Newmont's gold expertise. Take 2 Rio is in rough shape. It is run by Jakob Stauscholm who has almost no experience in mining. Jakob is a financial auditor and nothing more. Peter was the mining knowledge guy and

[cb2task]

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[Heywood_Silvers]

The future is indeed very bright for both gold and copper....... The present day is dominated by fiat currencies and internal combustion engines. The future will be dominated by precious metal backed currencies and electrified vehicles. That my friends is called progress, the people demand it and shall have it.  Invest accordingly....

[Pinegrove1]

Is it possible Toth takes Rio's inside info and strategy to Newmont as it pertains to WRN?

[jclarke042]

Yes, if he's ok with violating his NDA as it relates to any proprietary information, and subjecting himself to litigation by RIO. IMO, Toth is moving because he found a better opportunity for himself. Let's not overthink any of this.

[EvenSteven27]

Pine, JC is 100% correct. I've done numerous NDAs in my life and you cannot break them without serious repercussions. Toth is experienced enough to know that. Also, if Newmont got involved, they'd be charged for collusion. Look on it as a hockey trade when a star player is under-appreciated by the current team so another team swoops in to pick him up, or a more crude example of an under

[cb2task]

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[nmpappy78]

CB2... Please don't sell Dale short as he is THE mastermind of all of this beginning 16 years ago.  He knew from the start that nothing good could happen w/o the First Nation support, the Territorial Governors' support, YESEC support, and the Canadian National Government support. All of that did not happen by accident!  And, I can assure you that very few people have the

[cb2task]

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[Sooner]

The longer this takes for Rio to complete their DD....the more you have to understand Dale was blowing smoke during one of his last interviews when he basically directly stated that Rio had very few open outstanding questions and he expected an outright offer for all WRN shares much sooner than 18 months. Well not sure what much sooner means...I would think after 6-10 months...so we are rapidly

[nmpappy78]

Interesting "takes", Steven!  My "guess" is that Peter was passed over when Jakob was given the head job --- leaving Peter as a very disappointed and hurt person. My first prediction, given his talents and skills in mining development, is that he resents Jakob's stance on buying new proprerties when metals are LOW in price (as he has stated).  This is in direct