Cole is a highly experienced US coal executive who has been involved in some of the largest equity, debt and structured financings within the US coal industry.

His appointment precedes formal negotiations with equity and debt financiers for the development of Paringa’s Buck Creek No. 1 mine.

Cole has had a career spanning over 30 years of which over 20 years has been a senior executive in the US energy sector, most notably with Alpha Natural Resources and The Williams Companies, specialising in corporate finance and treasury.

In the last five years, Cole was instrumental in the structuring of a $US3.9 billion acquisition finance package for one of the largest ever coal acquisitions which included the completion of a high yield debt offering totalling $1.5 billion.

In addition, Cole has extensive experience in the structuring, syndication and management of asset-backed loans, secured credit facilities, and capital and operating leases within the US energy sector.

Cole has a BSc (business admin) and an MBA.

Gay said: “The addition of Scott as our chief financial officer is an exciting addition to our US team which will allow us to continue formal financing discussions with major global financial institutions to finance the Buck Creek No. 1 Mine.

“Having been responsible for financing numerous coal projects, Scott will be able to hit the ground running and immediately add a great deal of value to the upcoming financing discussions.”