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Hambro appointed to head SIMEC expansion

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World Coal,

The Gupta Group has appointed Jay Hambro as Group Chief Investment Officer. Hambro will also take up the role to CEO of the Energy and Mining Divisions at Gupta-owned SIMEC.

“Appointing Jay Hambro is a key hire as part of evolution and growth plans,” said P K Gupta, Chairman of the SIMEC Group, in a press statement. “Jay has a proven track record in buying, building, operating and financing commodity businesses. He is well respected in the sector and I am delighted that he is joining our team.”

Hambro joins SIMEC and the Gupta Group from indutrial commodities firm, IRC, where he was Executive Chairman. His primary role will be the global development of SIMEC, which currently includes a power generating arm, which owns the Uskmouth coal-fired power plant in South Wales, and a global portfolio of trading operations focused on the resources sector.

According to the company’s website, it is also interested in adding coal mining operations to its business to support the group’s trading and power generation activities with mines in Australia, India and the UK under assessment.

“I am very pleased and honoured to be joining this highly successful team,” Hambro said in a statement. “What the group has achieved in creating a dynamic and entrepreneurial business unit focused on commodities is to be commended.”

After graduating in business management, Hambro began his career in resource finance with NM Rothschild & Sons before moving to the investment bank of HSBC. Leaving the banking sector, he joined what was then Petropavlovsk Plc, spearheading the development of their industrial commodity division as Aricom Plc and more recently at IRC.

IRC is a vertically integrated commodities producer. Under Hambro the company has constructed and commissioned a 30 million tpa iron ore mining and processing operation with a near-term plan of bringing on stream one of the lowest-cost new iron ore mines in the world.

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