Former chief executive officer of the company behind development of a large coal mine in Mongolia, Alexander Molyneux, has been appointed executive chairman of Celsius Coal. The company says his appointment will be instrumental in driving the development of its existing coking and thermal coal projects in the Kyrgyz Republic towards commercialization.
Celsius managing director Grant Thomas says Alexander Molyneux’s track record and experience well positions the company to advance its main projects and pursue new projects in the region.
“Under his leadership, SouthGobi Resources grew to become the largest foreign operator in Mongolia’s coal sector. He was also instrumental in SouthGobi completing a sovereign wealth fund financing and main board listings on the Toronto Stock Exchange and then subsequently Hong Kong Stock Exchange. Clearly, Mr Molyneux’s experience and knowledge of Central Asia in general will allow him to contribute significantly to the future development of Celsius Coal.”
Alexander Molyneux is familiar with the region in which Celsius operates as he currently serves as chairman of the private group Azarga Resources, which acquired the largest known uranium deposit in the Kyrgyz Republic.
Prior to joining SouthGobi Alexander Molyneux was managing director of Citigroup’s Asia Pacific Metals & Mining Investment Banking, during which he provided advice and investment banking services to mining and industrial corporations.
Junior Australian coal explorer Celsius, formerly known as View Resources, has recently acquired an 80% interest in three prospective coal tenements in Kyrgyzstan’s Uzgen Basin region. It is planning a drill program at the sites to test the exploration target of coal already delineated at the tenements.