'Sharyn Gol' JSC (MSE:SHG) is pleased to announce that a new executive team has been appointed  to  spearhead  the company’s  expansion. Production  from  Sharyn Gol’s world class thermal coal deposit in Darkhan-Uul province, Mongolia,  is expected to increase significantly in the near future.  The appointment of the new executive team,  which includes highly regarded international mining and financial professionals, represents a key step forward in the continued development of the company. The new executive team members are: 

• Graham Chapman, Chief Executive Officer, who has over 30 years experience in 

the coal and mining industry and is a past senior executive of BHP Billiton Plc. 

• James  Flores, Chief Financial Officer,  former  senior executive of Norwest and 

Royal Coal Corporation. 

• James Goldie, Chief Operating Officer, a coal industry veteran held various senior 

roles in major coal mines in Indonesia and Australia. 

 

The new executive team will build up on 50 year history of Sharyn Gol. Mr. Batmunkh Batkhuu will remain as Chairman of the Board of Directors. 

 

Recent drilling programs have revealed a massive, world class resource base at Sharyn Gol and all necessary permits are in place to  launch a new open pit. However,  further investigation has led to discovery of previously undocumented coal resources in the existing open pit, providing Sharyn Gol with multiple options for production expansion. These options include potential to extract deeper coal accessed from the opencast pit using underground mining methods. 

 

Sharyn  Gol is  a  major  supplier of high calorific value, low ash,  and  low  sulfur  coal to the 

domestic market. As the only operating coal mine in the Northern region with all  the necessary infrastructure  in place, including a dedicated rail spur  connecting  to the Trans-Mongolian rail line, the Company is planning a significant increase in production. Current plans are to produce over 1 million  tons per annum in 2013 and gradually ramp up to 5 million  tons per annum by 2016 as coal is supplied to local and international markets. Even at this elevated production rate, Sharyn Gol will have a mine life of over 40 years, while additional exploration targets are still to be assessed. 

   

For more information please write e-mail or visit company webpage 

E-mail address: mail@sharyngol.com or otgonzul@sharyngol.com 

Website: www.sharyngol.com 

 

 

About 'Sharyn Gol' JSC:

 

Registered Office:

Address: Sanjit bag, Sharyn gol province of Darkhan uul Aimag, Mongolia

Tel:+976 – 7037-2246      

Fax:+976 -7037 -2235

Principal office:

HEADQUARTERS OF SHARYN GOL JSC, 4-th floor of  Land Mark Office Building, Chinggis Avenue-13,1st Khoroo Sukhbaatar District, Ulaanbaatar, Mongolia

Name of Director/CEO: Graham Chapman

 

E-mail: mail@sharyngol.com

Website: www.sharyngol.com

Established date: 1965-04-16

Listed date: 1994-07-04

Stock type: Common

Declared /common/: 10,231,389

State owned: 0

Nominal value per share: 100

Closing price: 9.000 /as of October 11, 2012/

 

Business Description:

Coal mining and sales

 

MONGOLIAN STOCK EXCHANGE

Public Relations Department