Cokal (ASX:CKA) CEO Jim Coleman resigns -Agbelo News

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  • Cokal (CKA) has announced James (Jim) Coleman has resigned as CEO after four years
  • The company says Mr Coleman hasn’t been able to be closely involved in its operations in Indonesia due to being stranded in Australia during the covid period
  • CKA’s Board thanks Mr Coleman for his service to the company and will now review potential candidates to fill his role
  • Company shares are trading 1.85 per cent lower at 13.3 cents at 11:47 am AEST

Metallurgical coal producer Cokal (CKA) has announced James (Jim) Coleman has resigned as CEO after four years.

CKA’s Board accepted his resignation and thanked him for his service to the company.

Chairman Domenic Martino said Jim hasn’t been intimately involved with Cokal’s operations, located in Indonesia, for some time.

“The covid period stranded him in Australia, limiting his involvement in Indonesia
throughout this time,” he said.

“However the company has been very fortunate as the Chairman of our BBM subsidiary Chin Wai Fong (Eddie Chin) along with Cokal Director Karan Bangur, based in Indonesia, have built a highly experienced coal mine development and production team both onsite at the mine and in the head office in Jakarta.”

The board will now review candidates but does note that there are strong internal candidates.

Earlier this year, Cokal announced it continued to make progress on the development of the Bumi Barito Mineral coking coal mine in Indonesia.

Initial operations will see coal transported from Krajan via a floating crane placed at the Batu Tuhup jetty. This process will allow for early shipments of coal to take place, while the Tuhup Jetty is being constructed.

On the market, CKA shares were trading 1.85 per cent lower at 13.3 cents at 11:47 am AEST.

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