Last checked at 12 May 2010 07:00
12 May 2010
AIM: CHL
Churchill Mining Plc
('Churchill Mining' or the 'Company')
Appoints CFO and Forms Prestigious Indonesian Advisory Board
Churchill Mining Plc is pleased to announce the appointment of Mr. Paul Graus to the Company as Chief Financial Officer. The Company has also formed an Indonesian Advisory Board to guide Churchill in Indonesia as it achieves its goal of becoming a major coal producer.
Appointment of CFO:
Mr. Graus has over 30 years accounting experience with nearly 20 years in the global mining industry, including a number of years in the Indonesian mining sector focussed on coal and tin.
Mr. Graus has extensive knowledge of the Indonesian coal mining industry, having acted as an Advisor to the Board of Directors of PT Tambang Batubara Bukit Asam, one of the largest Indonesian coal mining companies, where he assisted management with the financial and corporate restructuring of the business to maximise the value of the company for shareholders.
Before joining PT Tambang Batubara Bukit Asam, Mr. Graus acted as a senior advisor to the Board of PT Tambang Timah TBK, one of the world's largest tin mining companies, where he was involved in all aspects of the company's management with a core focus on financial management and preparation for its listing on the London Stock Exchange.
Most recently, Mr. Graus was Group Finance Manager for First Quantum Minerals Ltd, an international metals and mining company listed on the TSX and London Stock Exchange with a market capitalisation in excess of C$7 billion, where he managed the groups' project accounting functions to support the rapid expansion and development of the group's assets towards production.
Prior to his career in the mining industry, Mr. Graus worked for a number of leading Chartered Accountancy firms, including Price Waterhouse Urwick, Nelson Wheeler, Hendry Rae & Court and Bird Cameron Associates.
Formation of Advisory Board:
In support of Churchill's continued development into becoming a major Indonesian coal producer, Churchill has formed a prestigious Indonesian Advisory Board with extensive experience in high level government positions in Indonesia. The Indonesian Advisory Board will provide Churchill with high level strategic counsel focused on steering the Company successfully through the process of becoming a major Indonesian coal producer and providing increased access to all levels of industry and government.
Dr. Alwi Shihab has been appointed Chairman of the Indonesian Advisory Board. Currently Dr. Shihab is the Indonesian President's Special Envoy to the Middle East and has had an illustrious career in the Indonesian government, having previously held the position of Foreign Minister, as well as extensive experience in the areas of industry and commerce, having founded a number of companies and having held numerous board positions. Dr Shihab also served as a fellow and visiting professor at Harvard University in 1998.
Mr. Suhanjono has also been appointed to the Indonesian Advisory Board and brings with him significant experience in Indonesian law and international law. He was previously Attorney General of Indonesia and has spent over 40 years in various legal capacities with the Government of Indonesia. His knowledge of the legal framework is unrivalled and his network at all levels is extensive.
Mr. Faroek Basrewan, currently a Director of Churchill, has been appointed Secretary of the Advisory Board. Mr. Basrewan has considerable experience in government having held the positions of Special Aid to the former President of Indonesia, H. Abdurachman Wahid, Special Staff to the Ministry of Defence and Security and currently special staff of Dr. Shihab. In addition to the Board of Churchill, he is also President Director of PT. Era Baru Sejahtera and a Commissioner at Glendale Partners, an investment and management consultancy.
Paul Mazak, CEO of Churchill Mining, commented:
"We are extremely pleased with both the appointment of our new CFO and the creation of Churchill's Indonesian Advisory Board. We have been successful in drawing individuals of an extremely high calibre together to form a world-class team with the right mix of technical, corporate and government experience needed to develop the world-class East Kutai Coal Project. We continue to be well placed to accelerate our development programme and create value for our shareholders."
For further information, please contact:
| Churchill Mining Plc Managing Director - Paul G. Mazak +62 81510539186 / +62 21 39832398 +61 8 6382 3737 paul.mazak@churchillmining.com
| Astaire Securities Shane Gallwey / Toby Gibbs +44(0)20 7448 4400
| Pelham Bell Pottinger James MacFarlane / Charles Vivian +44 (0) 20 7337 1533 or +44 (0) 7894462114 |
END