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Corporate changes at TerraCom

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World Coal,

TerraCom Ltd has appointed Cameron McRae as Executive Chairman of the company, effective immediately. The company indicated that McRae will lead TerraCom’s transformation into an independent, mid-tier global resource player.

TerraCom has also reviewed the structure of the senior management. The following appointments and changes have been made to TerraCom’s executive committee, which will take effect immediately:

Michael Avery will move to Vice President Corporate Development and will remain on the Board as an Executive Director.

David Stone will become Vice President Operations.

Karl Arnold, who is currently Mongolian Business Unit Head, will move to Chief Financial Officer.

Julien Lawrence will become Chief Development Officer.

McRae stated: “TerraCom’s group of senior executives is highly experienced. The team collectively have worked through all stages of the mining life cycle, as leaders, advisors, investors and mining contractors.”

“The average experience of the executive team is 25 years. Several have worked and lived in developing environments as well as first world countries and the team has strong cross-commodity experience.” He continued: “I will play an active and hands-on role and look forward to working with the board and management teams to build a profitable and value-enhancing business for shareholders.”

Edited from press release by Harleigh Hobbs

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