Brown steps down as CEO of MC Mining
David Brown has resigned as CEO of coal miner MC Mining to pursue his own interests.
His resignation is effective January 31, but he will be available to MC Mining until March 31 to ensure a smooth handover.
Brown joined MC Mining as chairperson in August 2012 and was appointed CEO in February 2014.
"He has guided the company in a challenging business environment, accompanied by periods of significant commodity price volatility. David completed an extensive restructuring of MC Mining’s balance sheet, followed by the progression of the company’s hard coking coal assets and the acquisition of the cash-generative Uitkomst colliery," the JSE-, Aim- and ASX-listed company said on Friday.
CFO Brenda Berlin has been appointed acting CEO and will focus on securing the required funding for the development of the company's flagship Makhado hard coking coal project, in South Africa.
MC Mining on Friday also noted that the process to raise the $52-million composite debt/equity funding needed for Phase 1 of the Makhado project was progressing.
"I am pleased that Brenda has accepted the role of acting CEO in this key period. She has significant capital raising experience, among other areas, having been the CFO of Impala Platinum for a period of seven years prior to joining MC Mining," commented chairperson Bernard Pryor.
Comments
The
functionality
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation