Pike River Coal (ASX: PRC) is in the business of mining and exporting premium hard coking coal in New Zealand.
Hard coking coal is the most valuable type of coal and is used by steel mills and coking plants to make coke, an essential ingredient in the steel making process.
PRC is mining the Brunner seam under the Paparoa Ranges on the West Coast of the South Island, 50 miles north-east of Greymouth. At least 18 million tonnes of the 58 million tonne resource is expected to be recovered over a mine life of at least 18 years.
Pike River Coal (ASX: PRC) has announced that Gordon Ward, who has been CEO and managing director of the company since May 2007, will leave with effect from 1 October 2010.
Ward led Pike River from its initial conceptual design 14 years ago through development to its second coal export shipment in September 2010, and the imminent start-up of the hydromining operations.
Pike River said an announcement regarding Ward’s successor will be made shortly.