New CFO for Coal of Africa

A NEW face will head up finances at Australian Securities Exchange-listed Coal of Africa with the company appointing Michael Meeser as chief financial officer and executive director, with effect from June 1.
New CFO for Coal of Africa New CFO for Coal of Africa New CFO for Coal of Africa New CFO for Coal of Africa New CFO for Coal of Africa

Coal of Africa's Mooiplaats operation

Staff Reporter

Meeser, a chartered accountant, joined Investec Bank's project and infrastructure finance business within its capital markets division in 1998.

He is currently the head for Africa of the project and infrastructure business and the commodity and resource finance business, as well as being a member of the executive committees.

"I would like to welcome Michael on board during a challenging and yet exciting period of the company's development,” Coal of Africa chairman David Brown said.

"Michael brings a suite of unique skills that will enable the management to further strengthen the company's balance sheet as we bring our coking and thermal coal projects to account.

"As a board we are keen to ensure that we execute on the key milestones necessary for shareholder value growth."

Coal of Africa is experiencing logistical difficulties at a number of its Mozambique operations after a derailment forced repairs on the Matola rail corridor, pushing Coal of Africa to declare an almost eight week-long force majeure.

The rail corridor is expected to reopen at the end of this week.