Coalspur Mines Limited (ASX:CPL) Appoints Mr Colin Steyn As Non-Executive Director
Perth, Oct 21, 2010 AEST (ABN Newswire) - Coalspur Mines Limited (
ASX:CPL) (PINK:CSPZF) is pleased to announce that Mr Colin Steyn has been appointed as a Non-Executive Director of the Company. Mr Steyn has over 30 years experience in the resources sector. His appointment follows the recently completed placements to the Highland Park Group who have become a strategic investor in the Company.
Mr Steyn was previously President and CEO of Toronto based LionOre Mining International Limited ("LionOre") prior to it being acquired by Norilsk Nickel (LON:MNOD) in 2007. He was one of the original founders of LionOre and was instrumental in the growth and development of LionOre into a major international mining house. During his time as CEO, LionOre grew from a market capitalisation of US$100 million to over US$6 billion.
Prior to this, Mr Steyn was the Executive Director in charge of metallurgical operations in Zimbabwe for Rio Tinto (ASX:RIO) (NYSE:RIO). Mr Steyn holds an MBA from Cranfield University, UK.
Mr Steyn is currently a Director of Mantra Resources Limited (ASX:MRU) (TSE:MRL) which is developing the Mkuju River uranium project in Tanzania and Mirabela Nickel Limited (ASX:MBN) (TSE:MNB) which is developing the Santa Rita nickel project in Brazil.
The Directors of Coalspur are delighted to welcome Mr Steyn to the Board. His proven management skills and development expertise will be invaluable as the Company strives to fulfil its strategic objective of developing a major new thermal export coal mine to meet growing energy demands worldwide. Importantly, Mr Steyn's appointment coincides with the Company's proposed dual listing on the Toronto Stock Exchange ("TSX") and will also greatly assist in increasing the Company's profile within the Northern Hemisphere investment community.
About Coalspur Mines Limited
Coalspur Mines Limited (ASX:CPL) (TSE:CPT) is a coal development company with approximately 55,000 hectares of coal leases located within the Hinton region of Alberta, Canada. Coalspur's flagship project is Vista, which covers approximately 10,000 hectares and provides a large scale, surface mineable, thermal coal development. Vista is located adjacent to CN Rail's main line, which is suitable for the transport of coal to deepwater ports on Canada's west coast. Coalspur has secured a port allocation agreement with Ridley Terminals Inc., which is essential to the logistics supply chain necessary to export coal from Vista to the growing demand from the Asia Pacific countries.
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