Australian Pacific Coal’s CEO Departs After Strategic Achievements

November 29, 2024 12:26 PM AEDT | By Team Kalkine Media

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Australian Pacific Coal’s CEO Departs After Strategic Achievements — Image source: shutterstock

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Highlights

Australian Pacific Coal CEO Ayten Saridas announces departure.

Saridas played a key role in restarting the Dartbrook thermal coal mine.

Dartbrook mine’s first sales are expected soon.

Australian Pacific Coal (ASX:AQC) has announced that its CEO, Ayten Saridas, is stepping down from her position. Saridas, who has served as the managing director for nearly two years, confirmed her decision to leave as she looks forward to pursuing new professional ventures. Her departure follows significant progress at the company, particularly in the development of the Dartbrook thermal coal mine in New South Wales.

Saridas initially joined Australian Pacific Coal’s executive team to take over after the abrupt resignation of former CEO David Conry. During her tenure, she focused on strengthening the company's position, overseeing critical milestones that included securing the necessary funding to restart operations at Dartbrook.

With a strong background in the resources sector, Saridas previously held prominent executive roles at leading companies like Oil Search (ASX:OSH), SolGold (LSE:SOLG), and Coronado Global Resources (ASX:CRN). Her career also included a notable legal battle involving a workplace issue during her time at Oil Search.

In a statement on Friday, Saridas expressed satisfaction with her contributions to Australian Pacific Coal, highlighting her role in successfully securing the funding needed to bring the Dartbrook mine back into production. The Dartbrook facility is a key project for the company, with first sales from the mine expected in the coming weeks. This marks a pivotal moment for Australian Pacific Coal, as it moves closer to reestablishing its presence in the thermal coal market.

Saridas' departure comes as the company prepares for a new chapter, building on the groundwork laid during her leadership. While no immediate successor has been named, Australian Pacific Coal is expected to provide further updates on its leadership transition in the near future.

As the company approaches first sales at Dartbrook, the progress achieved under Saridas' leadership reflects her contributions to the resource sector and Australian Pacific Coal’s strategic advancements. The successful restart of operations at Dartbrook signals a positive outlook for the company's future endeavors.

Australian Pacific Coal remains focused on delivering thermal coal from its flagship project, aiming to meet market demands efficiently.

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