Continental Coal (ASX: CCC) is an established South African thermal coal producer, with a portfolio of producing and advanced coal projects located in South Africa's major coal fields. The company has two operating mines, Vlakvarkfontein and Ferreira, producing 2Mtpa of thermal coal for the export and domestic markets.
Continental Coal appoints South African mining veteran as non-executive chairman
Continental Coal (ASX:CCC) has appointed former Exxaro Resources executive director and chief operating officer Mike Kilbride as its independent non-executive chairman.
His appointment, which is effective immediately, is expected to benefit the company as it looks to grow its business.
Kilbride has more than 35 years of diversified mining experience, including senior management positions in charge of world-class mines primarily associated with bulk commodities and supplying markets in Asia, Europe and South Africa.
Besides his time at Exxaro Resources upon its listing in 2006 through 2008, Kilbride was the former chairman of Sishen Iron Ore Company during its phased expansion from 32 million tonnes per annum to over 43 million tonnes per annum.
He also served as chairman of Kumba Resources and Exxaro Coal during a period where thermal coal production increased from 17 million tonnes per annum to over 47 million tonnes per annum.
“Continental Coal believes the appointment of such a well respected and highly credentialed and experienced independent non-executive chairman is a further step in the growth of our company,” chief executive officer Don Turvey said.
“It is a major step forward for the Company and a clear indication of where we see Continental Coal in the years to come.
“Mike’s role and in particular his experiences as Chairman of Exxaro’s Coal Business from 2001 to
2008, a period where he oversaw production increased from 17 million tonnes per annum to the current 47 million tonnes per annum is extremely important to Continental Coal as we now look to grow our business.
“The growth at Exxaro was achieved through acquisitions, new mines commissioned and brownfields expansions and required obtaining increased allocation at RBCT and new supply agreements with Eskom.
“All of these areas will be key to the success of growing our business in the future; I welcome Mike to the company and look forward to working with him.”
Continental Coal has laid the foundations to double thermal coal export growth in 2012 by bringing a third mine into production, which is currently in development.
Combined, the company’s projects host 64 million tonnes in coal Reserves and in excess of 600 million tonnes of Resources.
The company has a current run of mine production of 2 million tonnes per annum of thermal coal with sales to the international export and domestic markets.
Continental’s goal is to achieve 7 million tonnes per annum of run of mine coal production in 2013.
