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  • Metallurgical coal developer Atrum Coal (ATU) has appointed Andrew Caruso as the company’s new CEO, effective immediately
  • He’ll replace departing Managing Director and CEO Max Wang
  • Mr Caruso has over 30 years of global mining experience, including nine years as CEO or Managing Director of other iron ore and coal companies
  • Company shares are trading 2.3 per cent lower for 21 cents each

Metallurgical coal developer Atrum Coal (ATU) has appointed Andrew Caruso as the company’s new CEO, effective immediately.

He will replace departing Managing Director and CEO Max Wang who is leaving the business following completion of the scoping study at the company’s flagship Elan Hard Coking Coal Project in Alberta, Canada.

Atrum Non-Executive Chairman Chuck Blixt thanked Mr Wang for his service and welcomed Mr Caruso to the role.

“On behalf of the Atrum Board and all shareholders, to thank Max for his hard work and diligence over his tenure as Managing Director. We wish him all the best with his future endeavours.”

“We are pleased to have appointed a professional executive of the calibre, and with the experience, of Andrew – particularly in relation to bulk commodity projects. We look forward to him driving the world-class Elan Project towards development and profitability.”

Mr Caruso is a mining engineer with experience spanning over 30 years in operational, management and executive roles. This experience includes 14 years in direct mine operations, six of which were in technical and management roles, and nine years as either a CEO or Managing Director.

This experience includes working as CEO or Managing Director at fellow iron ore and coal companies Australasian Resources (ARH), Crossland Resources and Ascot Resources (AZQ) between 2007 and 2016.

From 2016 until 2017, he was a Director with PwC’s consulting arm, delivering solutions to clients, including mining companies. Between 2017 and 2019, he held the position of Vice President of Corporate Development at Alcoa. He is currently a Non-Executive Director of Great Southern Mining (GSN).

Mr Caruso said he is excited to take on the leadership of Atrum and the next stage of development at Elan.

“The Elan Hard Coking Coal Project is world-class, as highlighted by the highly successful field programs in 2018 and 2019, and the recent release of the Scoping Study. The low-strip Isolation South and Elan South deposits offer a compelling, Tier 1 development opportunity that is technically robust and projected to be highly economic. I am truly looking forward to getting started.”

Atrum Coal shares are trading 2.3 per cent lower for 21 cents each at 2:40 pm AEST.

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