Forms Anthracite Marketing Advisory Committee
Perth, Aug 5, 2014 AEST (ABN Newswire) - Following the appointment of Mr Peter Doyle to the position of VP Marketing and Business Development earlier this year, Atrum Coal NL ("Atrum" or the "Company") (
ASX:ATU) (:ATRCF:OTCMKTS) is pleased to announce it has established the Anthracite Marketing Advisory Committee (AMAC) and has made two key appointments.
AMAC will consist of industry experts across a range of specialist fields including high grade (HG) and ultra-high grade (UHG) anthracite applications, anthracite marketing and offtake agreements. As a dedicated adviser to the Company, AMAC will ensure that the Board can maximise shareholder value through a long-term offtake strategy that takes full advantage of Groundhog's strategic value as the largest known and undeveloped HG and UHG anthracite deposit in the world.
Joining Mr Peter Doyle on AMAC, the Company has appointed leading coal marketing specialists Mr George Edwards and Mr Stephen Gye. Combined, they have more than 85 years' experience in the global metallurgical coal and coke markets and bring significant value to Atrum's long term vision. VP Marketing and Business Development, Mr Peter Doyle, commented:
"Supply to Japanese and Korean steel mills from the traditional anthracite sources of Vietnam and China are waning, and Russian anthracite supply continues to face geo-political and logistical challenges. Groundhog represents an opportunity to revolutionise the steel industry by providing, for the first time a reliable supply of quality anthracite coal required to produce high value steel and specialty high carbon products. We are excited at the opportunity to work closely with George and Stephen on AMAC as Atrum positions itself to capitalise on this once-in-a-lifetime opportunity.
During a recent trip, I visited the largest steel producers in Asia and witnessed first hand the rapidly increasing and unmet demand for high grade anthracite. Our prospective customers are excited that Groundhog can fill a real global shortfall, and the opportunity to secure reliable long term supply.
We are well positioned in the market from a strategic supply standpoint and there is an opportunity to win significant premium supply contracts. The marketing and operations team are working hard to supply steel mills and specialty industry consumers with trial samples later this year. Our low ash, low sulphur, high CV lump and fines anthracite specifications have been well received by our potential customers; we now need to supply consumers with samples to trial in their coke blends and minimills in order to test the performance of our products across a range of applications as a precursor to long term offtake contracts.
George and Stephen are experienced coal executives, with an enviable track record in the global metallurgical coal and steel industries. We are excited to have them on our team and supporting our marketing efforts."
AMAC - APPOINTMENT OF MR GEORGE EDWARDS
Mr George Edwards BSc (Tech), CEng, FAICD, FIE (UK), FAIE, FAusIMM (CP), MMICA is a metallurgy graduate from UNSW and has been a prominent authority in the global coal and steel sectors for over 40 years, having owned and operated three export-focused coal mines.
Mr Edwards boasts a long and successful career in the coal industry with an impressive list of industry achievements and accolades:
- Leader of the Australian Government Sponsored Coal Mission to South America
- Member of the first Australian Coal Mission to China
- Member of the Australian Steaming Coal Survey Mission to the USA
- Member of the Australian Ministerial Coal Mission to India
- Former President of The Australasian Institute of Mining and Metallurgy (The AusIMM)
- Former International Chairman of the Coal Preparation Congress
- Gold Medal Recipient by the Mineral Industry Consultants Association in 2011
- Former CEO in Australia for Consolidation Coal Company of USA
- Former Marketing Director at Coal & Allied Industries Limited
- Former Head of Marketing and Fuel Technology at the Joint Coal Board
- Former Head of Coal and Coke Research at BHP
- Former Chairman of Standards Australia
- Former Chairman of Environment, Materials and Safety Standards Sector Board (Standards Australia)
- Former Chairman of SAI Global Limited
- Former Chairman of the Energy Council of Australia
Mr Edwards is currently Executive Chairman of the Australian Mining Association. He is mandated by several Chinese buyers, including the China Mining Association for whom he serves as Senior Foreign Advisor, to source coal projects.
AMAC - APPOINTMENT OF MR STEPHEN GYE
Mr Stephen Gye BSc (Geol) has over 45 years' experience in the Australian and overseas coal industry. He has a strong background in sales and marketing, business analysis, project management, exploration, mine geology, coal utilisation and trading. Particular skills include strategic marketing and customer relations and development.
Mr Gye boasts a long and successful career in the coal industry:
- 13 years with BHP Steel Division in mine operations
- 4 years with Kennecott (Australia) Limited in mine operations and project development
- 4 years with McIlwraith McEacharn Limited in mine operations and marketing
- 4 years with the Liddell Joint Venture in mine operations and marketing
- 8 years with Oakbridge in marketing and offtake
- 6 years with Barlow Jonker as Executive Director (Coal Marketing)
- 7 years with Wood Mackenzie in marketing and strategic consulting
Mr Gye has successfully developed new sales portfolios for developing and existing export projects in major international coal markets including Asia, Europe and the Americas. Most recently, Mr Gye held senior positions with the prominent consultancy and research groups, Barlow Jonker and Wood Mackenzie, where he specialised in coal market analysis, development and sales strategies. In addition to his marketing skills he has a strong technical background in coal technology and coal utilisation in the metallurgical and energy industries.
PRE-PRODUCTION MARKETING
During June and July 2014, Atrum conducted multiple international marketing campaigns to various potential customers in Europe, North America and Asia. The purpose was to solicit customer interest for Groundhog's bulk sample program this year. Consumer interest was overwhelming and we have secured interest from tier one steel mills as well as specialty market participants. Atrum will progress these discussions through provision of customer samples later in the year as a precursor to long term offtake negotiation.
HEAD OFFICE RELOCATION
The Company has moved its head office from Ground Floor, 510 Hay Street to Level 1, 329 Hay Street, Subiaco 6008. All other contact details for the Company remain unchanged.
About Atrum Coal Limited
Atrum Coal Limited (ASX:ATU) is a metallurgical coal developer. The Company flagship asset is the 100%-owned Elan Hard Coking Coal Project in southern Alberta, Canada. Elan hosts large-scale, shallow, thick, hard coking coal (HCC) deposits with a current JORC Resource Estimate of 298 Mt (70 Mt Indicated and 228 Mt Inferred). Comprehensive quality testing of Elan South coal on samples from the 2018 exploration program, combined with review of substantial historical testwork data for the broader Elan Project, has confirmed Tier 1 HCC quality.
The initial focus for development is the Elan South area, which is located approximately 13 km from an existing rail line with significant excess capacity, providing direct rail access to export terminals in Vancouver and Prince Rupert. Elan South shares its southern boundary with Riversdale Resources Grassy Mountain Project, which is in the final permitting stage for a 4.5 Mtpa open-cut HCC operation. Around 30km to the west, Teck Resources operates five mines (the Elk Valley complex) producing approximately 25 Mtpa of premium HCC for the seaborne market.
| ||
|
