- Cokal (CKA) appoints Director Karan Bangur as CEO as part of its strategic transition towards a coal-producing company, effective immediately
- Chairman Domenic Martino says the appointment pointed towards the strength and depth of the team built at Cokal over the past four years
- Mr Bangur will receive a remuneration package that includes a base salary of $240,000 per annum
- Shares in Cokal hold steady at 16 cents as of 3:59 pm AEST
Cokal (CKA) has appointed Director Karan Bangur as its new CEO as part of its strategic transition towards a coal-producing company, effective immediately.
Prior to working at Cokal, he spent over a decade operating mining and logistics projects in South East Asia which include thermal coal mine operations in Tanah Grogot, East Kalimantan.
Since being appointed a Director in April 2019, Cokal said Mr Bangur has been instrumental in recruiting and developing the highly experienced team and the Bumi Barito Mineral (BBM) project.
In addition, he has driven the development milestones for the BBM project including contract awards, logistics chains and operating requirements and resources.
At a corporate level, he has worked closely with Cokal’s Chairman in raising equity from the capital markets and finalising the financing facilities necessary to bring BBM to production.
Chairman Domenic Martino said the appointment pointed towards the strength and depth of the team built at Cokal over the past four years.
“Karan’s experience on the BBM project is second to none and in his time with the company he has been instrumental in navigating the technical, logistical and financial requirements of the company’s foundation project,” he said.
“The board has great confidence that under Karan’s leadership it will see a transition to a producing coal company.”
He will receive a remuneration package that includes a base salary of $240,000 per annum.
Shares in Cokal held steady at 16 cents as of 3:59 pm AEST.