Chris Stewart out as McEwen Mining president – by Staff (Northern Ontario Business – March 18, 2020)

Chris Stewart is no longer president and chief operating officer of McEwen Mining. In a two-sentence news release, the Toronto-based gold miner with operations near Timmins made the announcement late on March 18.

The company gave no reason for his departure, adding only that his responsibilities are being spread out among the management team.

The move came just two days after the mid-tier miner posted its fourth quarter and year-end results showing its three mines in Timmins, Argentina and Nevada generated a cash gross profit of $33.7 million for 2019 and a gross profit of $9.0 million.

But for the year, McEwen spent $47.3 million on developing its advanced projects and for exploration, which contributed to net loss of $59.7 million. Total gold production across the board amounted to 174,420 gold equivalent ounces, down from 175,640 ounces the previous year.

Stewart was hired during the summer of 2018 to replace Xavier Ochoa, who resigned and has since caught on as vice-president of operations at Quintana Resources in Houston.

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