Continental Coal, the South African thermal coal production and development company, said it has appointed Mr Maritz Smith as chief financial officer.

Mr Smith has joined the company and will be based in South Africa.

He was previously CFO and group financial director of South African diversified mining company Metorex Ltd, a wholly owned subsidiary of the Jinchuan Group. During his time at Metorex, Mr Maritz was responsible for the funding requirements across a number of operating copper, coal, gold, fluorspar and antimony subsidiaries.

He is a member of the South African Institute of Chartered Accountants and has more than 10 years' experience in the mining industry.

His experience ranges from financial oversight, governance and risk management to formulating and implementing funding strategies and M&A activities.

CEO Mr Don Turvey said “The appointment of Maritz reflects the growth of Continental as it continues to operate and develop coal mines in South Africa and seeks further growth opportunities.”

Continental produces thermal coal from the Vlakvarkfontein and Ferreira coal mines, producing 2 million tonnes per annum for the export and domestic markets. A third mine, the Penumbra coal mine, started development in September 2011. A bankable feasibility study was also completed on a proposed fourth mine, the De Wittekrans coal project. The company is targeting 7 Mtpa run-of-mine production in 2013.

Source - Proactive Investors

(www.coalguru.com)