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Pacific American Coal to be led by coal industry expert

Pacific American Coal (ASX:PAK) has appointed Mark Lochtenberg as managing director to push forward the development of its flagship hard coking coal project, Elko, in British Columbia, Canada.
Pacific American Coal to be led by coal industry expert
Pacific American Coal to be led by coal industry expert

He will commence on 1 February 2017.

Lochtenberg has substantial global and Australian coal industry experience, including as former co-head of Glencore International AG's worldwide coal division.

He was also executive chairman and founding managing director of Cockatoo Coal, now Baralaba Coal Company (ASX:BCL), taking it from grass roots explorer to mainstream metallurgical coal producer.

Lochtenberg’s experience in the coal industry will be valuable for Pacific American as it moves quickly to advance the Elko project.

The project contains a JORC 2012 resource of 257.5 million tonnes of coal in an area of 3,571 hectares.

The company has recently raised $2.3 million to fund a mid-year drilling program and a scoping study on the development.

This will provide Pacific American with the initial mine concept design and provisional capital cost estimates.

The company’s shares were last trading 9.5% higher intra-day, at $0.115.

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