[miningmx.com] – RESOURCE Generation (Resgen), a coal development firm, said it had appointed Robert Lowe as its interim CEO following the resignation of Paul Jury on November 26.
Lowe is CEO of Altius Investment Holdings which is a shareholder in Resgen. It and another shareholder, Noble Group voted to replace Resgen’s board with their own nominees. Jury resigned after he was voted off the board.
Among Lowe’s first duties will be to “… assist with the delivery of a debt funding solution for consideration by the board,” it said in an announcement. The firm’s new chairman is Denis Gately while Lulamile Xate, a director of Altius, will be the deputy chairman, the company said.
Resgen is seeking $400m to pay for the development of the Boikarabelo project, a thermal coal mine in South Africa’s Limpopo province.
“Mr Lowe’s familiarity with the affairs of the company and relationship with key shareholders and stakeholders make him well placed as interim CEO to efficiently manage the transition period following the recent overhaul of the board,” the company said in an announcement.
