Northern Star Resources boss Bill Beament named Pinnacle Awards’ Business Leader of the Year
Still basking in the glow of a $1.2 billion deal to snap up a half-share of Kalgoorlie’s Super Pit, Northern Star Resources boss Bill Beament’s stellar run of success continued last night when he was crowned WA Pinnacle Awards’ Business Leader of the Year
20th March 2020
Resources Rising Stars
Still basking in the glow of a $1.2 billion deal to snap up a half-share of Kalgoorlie’s Super Pit, Northern Star Resources boss Bill Beament’s stellar run of success continued last night when he was crowned WA Pinnacle Awards’ Business Leader of the Year (reports The West Australian).
Judges said Mr Beament had taken a gold industry minnow and built a team and a business that had achieving remarkable success, while also acting as a role model to aspire others.
Past winners of the award, run by the Institute of Management WA, include Richard Goyder, Andrew Forrest, Nev Power, the late Stand Perron, Adrian Fini, Sue Murphy and Chris Ellison.
AIM WA chief executive Professor Gary Martin said Mr Beament had reached his own career pinnacle in the past year.
“Bill Beament’s leadership of Northern Star Resources, from being a company worth less than $10 million to a $10 billion gold juggernaut today, is nothing but inspirational,” Prof Martin said.
Northern Star secured a deal in mid-December to buy Newmont Goldcorp’s 50 per cent operating stake in the Super Pit, just weeks after fellow WA-based gold miner Saracen Mineral Holdings bought Barrick’s share of the famous Goldfields mine.
The two purchases put the mega operation back in local hands for the first time since it was conceived by the late Alan Bond in the 1980s.
For Mr Beament, it represented the biggest acquisition Northern Star has made.
The 45-year-old learned the industry ropes as a mining engineer in the 1990s at Kalgoorlie-Boulder’s WA School of Mines. After graduating with honours, he worked in underground mining and later worked in senior positions at mining contractor Barminco and explorer Breakaway Resources before joining Northern Star as managing director in 2007.
Since then, he has turned Northern Star from an obscure penny stock into Australia’s second-biggest gold miner and, arguably, its most successful.
Under his stewardship, Northern Star has adopted a successful strategy of acquiring ageing, unloved assets and turning around their fortunes by cutting operating costs, lifting production and extending their mine lives.
Image credit: Tori O'Conner/The West Australian
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