Western Copper CEO exits as Casino review advances
CEO Sandeep Singh is stepping down and chairman Mark E. Smith takes over as the company advances its Casino project.
Sandeep Singh, CEO of Western Copper and Gold (WRN), is stepping down from his position as the company prepares to advance its Casino copper-gold project through the highest level of environmental assessment in Yukon. Singh will be succeeded by chairman Mark E. Smith, who will also serve as interim CEO until a permanent replacement is found.
The project, valued at $3.62 billion in Western's 2022 feasibility study, is expected to generate 27 years of operations. National Bank Financial mining analyst Rabi Nizami believes Singh's departure will surprise the market, as the company has been steadily progressing towards a major permitting phase. Smith, with over 45 years of mining experience, will maintain a steady hand on the Panel Review and leverage his relationships with Yukon government and industry.
The open-pit mine, proposed to produce 164 million lbs. of copper and 259,000 oz. of gold annually, is currently under panel review by the Yukon Environmental and Socio-economic Assessment Board.
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