Hjelte has extensive experience in investment and portfolio management specializing in the mining, utilities, and energy sectors at some of the most notable investment funds in New York.
Paringa CEO David Gay said: “He will add extensive and valuable experience in financing US coal projects as we continue negotiations with financiers to fund and develop the company’s low-capex Buck Creek No.1 Mine in the Illinois Basin.
“His willingness to join the board is further testament to the quality of the Buck Creek No.1 Mine and our plans to become a significant new source of production in the growing Illinois Basin.”
Prior to Millennium Management LLC, Hjelte was an analyst at CR Intrinsic Investors, a division of SAC Capital Advisors focused on deep fundamental research. He began his career at Lehman Brothers as an investment banker.
Hjelte graduated Summa Cum Laude from Lehigh University where he received an M.S. in Statistics and a B.S. in the Integrated Business and Engineering honors program.
He also holds the Chartered Financial Analyst (CFA) designation.
David Chapman will step down as a non-executive director of Paringa.
The appointment of Hjelte and the resignation of Chapman will be effective on or about 11 January 2016.
