Quick fire – industry news briefs

Yancoal Australia has announced the resignation of chief executive officer David Moult after seven years with the company, including five as CEO. Yancoal Australia chief executive officer David Moult. Mr Moult said; “It has been a great honour to lead Yancoal these past five years. Having successfully navigated several years of excessive wet weather and the COVID pandemic the company has emerged in an incredibly strong operational and financial position. "During the recent holiday season, I took time to reflect on my time with Yancoal, the capacity it possesses to pursue future opportunities and the highly capable executives and operational personnel across the company. I concluded that having spent longer in the role than initially expected when asked to become CEO, it is an opportune time to step down. I have thoroughly enjoyed my time with Yancoal and now look forward to spending more time with my family, watching on as new leadership leads Yancoal on to further success.” Yancoal’s chair of the executive committee, Ning Yue, will serve as acting CEO until the board makes a permanent appointment to the role. True North Copper has resumed trading on the Australian Securities Exchange following the recent successful recapitalisation that saw the company claw back from administration. This included the completion of a $50.9 million conditional placement and $2.54 million share purchase plan. Following the recapitalisation, True North said it had commenced a revised business strategy, which included pausing the operational ramp-up of the Cloncurry Copper Project (CCP). It said it would be undertaking an extensive exploration and resource definition drilling campaign at CCP and the Mount Oxide Project. EQ Resources chief executive officer Kevin MacNeill will transition to a new role as chief technical officer with the tungsten producer from April. 'The board of directors deeply appreciates Kevin’s dedication and contribution since joining EQR in 2019 and leading the company as its CEO. In his new role, Kevin is tasked to further leverage his significant technical experience to ensure further improvements in production and recovery rates are realised at both the Mount Carbine and Saloro operations,' the company stated in an update to the ASX. It said the board of directors had commenced a process to build further leadership capacity within the management team and board. Neville Sneddon has stepped away from his position as a non-executive director at Bowen Coking Coal as the company continues what it describes as an ongoing board and leadership renewal process. Executive chairman Nick Jorss said the resignation followed a period of significant progress for Bowen, including the achievement of steady-state production at the Burton Mine Complex, substantial balance sheet improvements, and the successful onboarding of new leadership team members. “On behalf of the board and the entire Bowen team, I would like to extend my sincere gratitude to Neville for his valuable contributions to the company, including his tenure as chairman," he said. "His technical expertise and strategic insight have been instrumental in guiding Bowen through a transformative period. We wish Neville all the best in his well-deserved retirement." North-West Queensland phosphate miner Centrex is undertaking an entitlement offer to raise about $10.4 million. The ROM and load-out area at Centrex's Ardmore phosphate operation. “The entitlement issue is a vital step in ensuring the financial viability of the company moving forward as well as building a financial foundation needed to complete the Stage 1.5 expansion, which will enable the essential plant upgrades required to achieve 625ktpa of beneficiated phosphate production," chief executive officer and managing director Robert Mencel said. "The agreements with the company’s logistics provider have allowed us to restructure our trade debts with them (which helps bolster our working capital position), which subject to completing a successful capital raise, will allow us to advance our strategy with confidence." Current and prospective suppliers are invited to attend Rockhampton Regional Council’s free supplier forum on Thursday, January 30, at the Walter Reid Auditorium. Two sessions are available at 7:30am and 3:30pm. The event will include a presentation led by the coordinator of procurement and logistics, followed by an informal chat where participants can ask questions and discuss topics of interest with council representatives. Register to attend via https://www.trybooking.com/CYFAK.

Quick fire – industry news briefs

Industry Queensland

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