Pacific American Coal has appointed Mark Lochtenberg as Managing Director to push forward development of the company’s flagship hard coking coal project, Elko, in British Columbia, Canada.
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 overseeing its trading division and identifying and negotiating the acquisition and aggregation of a project portfolio that became Xstrata Coal. He was also Executive Chairman and founding Managing Director of ASX listed Cockatoo Coal Ltd, taking that company from grass roots explorer to mainstream metallurgical coal producer.
He is the Chairman of ASX-listed Equus Limited and a Director of rail infrastructure group Australian Transport and Energy Corridor Pty Limited. Lochtenberg has previously been a Director of ASX-listed Cumnock Coal Ltd and privately held United Collieries Pty Ltd.
PAK’s Chairman Geoff Hill said: "Mark’s experience in the coal industry and corporate arenas will be invaluable as the Company moves quickly to advance the Elko project. We have recently raised $2.3 million to fund a mid-year drilling program and a scoping study on the development, which will provide us with initial mine concept design and provisional capital cost estimates."
Mark Sykes, the current Chief Executive Officer, will continue to make a significant contribution to PAK focusing on the Elko Project.
Read the article online at: https://www.worldcoal.com/coal/23012017/coal-industry-expert-to-lead-development-of-flagship-elko-project/