connie molusi on board

Connie's appointment is huge news for Continental Coal - and shows that the company is capable of attracting some seriously politically well connected & well respected SA business leaders - esp. following the recent appointment of Mike Kilbride. Well done Conti!

Continental Coal strengthens Black Economic Empowerment partnership with board appointment

Monday, February 27, 2012 by Angela Kean

Continental Coal (ASX: CCC) continues to build its relationship with broad based Black Economic Empowerment partner Sishen Iron Ore Company Community Development Trust (SIOC-cdt) with the appointment of SIOC-cdt chairperson Connie Molusi as non-executive director of Continental.

SIOC-cdt is Continental’s 26% partner in the company's South African subsidiary after committing a A$17.3 million (ZAR140 million) initial investment to further fund the growth and development of Continental’s thermal coal mining business in South Africa.

Molusi has more than 25 years experience in South Africa’s business sector and has previously held the position of executive director and group chief executive officer of Johnnic Communications, South Africa’s leading media group.

Molusi’s board experience also includes non-executive director of Petro SA, chairman of the Johannesburg Tourism Company and chairman of African Media and Entertainment Ltd.

Continental chief executive officer Don Turvey said the appointment firmly cements the company’s partnership in South Africa with SIOC-cdt.

“Our business in South Africa has grown significantly over the past 12 months, we now have a number of producing mines, development projects and exploration programs progressing rapidly, and there are significant opportunities as well as challenges ahead of us,” he said.

“As a company we have recognised the need to enhance and strengthen our board.”

Last week Continental appointed former Exxaro Resources executive director and chief operating officer Mike Kilbride as its independent non-executive chairman.

Kilbride has more than 35 years of diversified mining experience, including senior management positions in charge of world-class mines primarily associated with bulk commodities and supplying markets in Asia, Europe and South Africa.

Continental is working towards bringing its third mine, the Penumbra Coal Mine, into production.

The mine is forecast to produce annual run of mine production of 750,000 tonnes and set to double Continental’s thermal coal export growth in 2012.

http://www.proactiveinvestors.com.au/companies/news/25737/continental-coal-strengthens-sioc-cdt-partnership-with-board-appointment--25737.html