McCarthy takes the chair at Endocoal

PHILLIP McCarthy has been elected chairman of the Endocoal board after the retirement of interim chairman Rod Austin at the Queensland-based coal mine company’s annual general meeting.
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Phillip McCarthy

Lou Caruana

McCarthy, who has been a board member of Endocoal since April 2010, will take over the chairmanship of the company as it prepares the scheme of arrangement for its 38c per share takeover offer by U&D Mining.

Shareholders are due to vote on the scheme of arrangement in February.

McCarthy has 40 years experience working in the Australian coal industry in both senior management and industry strategic roles.

For 10 years he was chief executive and managing director of Powercoal, an 11 million tonne per annum underground coal producer before the company was acquired by Centennial Coal.

He also served as a director of Jellinbah Resources, developer of a 4Mtpa open cut pulverised coal injection coal mine in Queensland’s Bowen Basin.

McCarthy has been a member of the Australian Coal Association executive committee and the NSW Mineral Council.

He has advised vendors and investors in both trade sales and equity raisings through his consulting company.

He currently holds directorships in WDS and a number of other private mining services and technology companies.

McCarthy is a fellow of the Australian Institute of Company Directors and a fellow and chartered professional of the Australian Institute of Mining and Metallurgy.

The AGM also saw the appointment of another director, Ray Miller.

Miller has extensive, diverse, international and domestic experience in coal, mining and minerals, according to Endocoal.

“He has significant experience in listed entities as chairman, director, chief financial officer and managing director,” the company said in a statement.

“Ray is looking forward to working with Phil McCarthy and Lex Hansen and the company’s two other directors, Gavin Solomon and managing director Tim Hedley.”

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