MARKETS

A confirmed high roller

WOLLONGONG Coal has provided more confirmation that its Rolls Royce-driving former chairman Arun ...

Blair Price
A confirmed high roller

“The pay to the previous Chairman, Mr Jagatramka who resigned effective from October 26 2013, consisted of base salary of $1,000,000 per annum, superannuation at a prescribed government rate and cost of medical insurance cover for him and his immediate family members along with adequate fully-furnished accommodation and two vehicles of an appropriate standard,” Wollongong Coal said.

The board is still yet to determine and approve a remuneration package for its replacement chairman and CEO Jasbir Singh.

Singh comes from the company’s white knight shareholder Jindal Steel, which owns a 74.42% stake of Wollongong Coal.

Last year the company, back when it was known as Gujarat NRE Coking Coal, revealed that Jagatramka’s base salary had increased by 53% year-on-year to more than $1 million in 2013 through a salary table that was released as part of a Gujarat entitlement issue at the time.

This salary growth came during a year that Gujarat faced several winding up applications over millions in debt.

Gujarat also fell behind in making superannuation payments to its workforce for several months plus failed to make salary payments on time over a difficult period in September-October.

TOPICS:

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Monthly Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Monthly Intelligence team.

editions

Mining Magazine Intelligence: Automation and Digitalisation Report 2024

Exclusive research for Mining Magazine Intelligence Automation and Digitalisation Report 2024 shows mining companies are embracing cutting-edge tech

editions

ESG Mining Company Index: Benchmarking the Future of Sustainable Mining

The ESG Mining Company Index report provides an in-depth evaluation of ESG performance of 61 of the world's largest mining companies. Using a robust framework, it assesses each company across 9 meticulously weighted indicators within 6 essential pillars.

editions

Mining Magazine Intelligence Exploration Report 2024 (feat. Opaxe data)

A comprehensive review of exploration trends and technologies, highlighting the best intercepts and discoveries and the latest initial resource estimates.

editions

Mining Magazine Intelligence Future Fleets Report 2024

The report paints a picture of the equipment landscape and includes detailed profiles of mines that are employing these fleets