Craig Jones
CEO: Perseus Mining
‘The plan is still the plan. The company has enormous optionality in it’
CRAIG Jones joined Perseus Mining in August last year and became MD and CEO in October, replacing Jeff Quartermaine. It’s always hard to replace a long-standing leader but in early communications to the market, Jones has indicated a continuation of the company’s five-year plan unveiled in 2024. “The plan is still the plan. There’s a solid platform that Jeff and the team have built over the years and the company has enormous optionality,” Jones said in October. He added that the focus would be on delivering the $523m Nyanzaga project in Tanzania, bought in 2024 for A$258m, and CMA, Côte d’Ivoire’s first underground mine.
The firm has also committed to brownfields exploration to extend mine lives. Interestingly, Perseus remains an opportunistic player in gold market M&A. “If any other options come our way, then we’ll assess them on their relative merits,” said Jones. He was on the end of an early setback, however.
In December, Perseus terminated a proposed A$2.1bn takeover for Predictive Discovery, a developer in Guinea. This was after Canada’s Robex Resources exercised its right to match any takeover offer for Predictive Discovery in terms of merger proposals the two companies agreed in October. A blood nose, perhaps, but the silver lining is Jones overcame an early test on capital discipline. He has said Perseus remains committed to “strong cashflows”. Amen to that.
LIFE OF CRAIG
Jones joined Perseus after a long career with Newcrest Mining, working across Australia, Papua New Guinea, Indonesia and Canada. He was a member of Newcrest’s executive team from 2012 until its acquisition by Newmont Corporation in late 2023, holding a variety of roles which culminated in his becoming global chief operating officer with responsibility for five operating assets across multiple jurisdictions. Jones has a degree in mechanical engineering from the University of Newcastle in New South Wales.
