SouthGobi Resources Limited
HKSE : 1878

SouthGobi Resources Limited

September 12, 2012 08:30 ET

SouthGobi Resources Announces Departure of Alexander Molyneux

Coal and Energy Industry Veteran Ross Tromans Nominated President and CEO

HONG KONG, CHINA--(Marketwire - Sept. 12, 2012) - SouthGobi Resources Ltd. (TSX:SGQ)(HKSE:1878) ("SouthGobi") today announced the termination of President and Chief Executive Officer Alexander Molyneux effective September 12, 2012. Coal and energy industry veteran Ross Tromans has been nominated President and Chief Executive Officer, subject to confirmation at the next meeting of the Board of Directors. Deputy Chairman Sean Hinton will manage the transition on behalf of the Board and will lead the company in the interim.

Chairman of the Board Kay Priestly said, "Ross brings a wealth of industry insight to SouthGobi after almost three decades in the coal and energy sector. The Board is working with Ross and Sean to ensure a smooth transition as we focus on strengthening the company's core business performance. We are committed to operating SouthGobi and realizing Ovoot Tolgoi's production potential."

Mr. Tromans has approximately 30-years sales and marketing experience in the coal and energy sectors covering the Asian and North American markets. Most recently, he was General Manager Marketing at Rio Tinto Coal Australia where he was responsible for the development and implementation of the overall marketing strategy for thermal, coking and semi-soft coal. Previously, Mr. Tromans held senior roles at Rio Tinto including General Manager Marketing and Sales at Rio Tinto Alcan, Director New Markets and Service at Kennecott Energy and General Manager Marketing at Kaltim Prima Coal.

About SouthGobi Resources

SouthGobi Resources is focused on exploration and development of its Permian-age metallurgical and thermal coal deposits in Mongolia's South Gobi Region. The company's flagship coal mine, Ovoot Tolgoi, produces and sells coal to customers in China. The company plans to supply a wide range of coal products to markets in Asia.

Forward-Looking Statements: This document includes forward-looking statements. Forward-looking statements include, but are not limited to, plans to supply a wide range of coal products to markets in Asia; and other statements that are not historical facts. When used in this document, the words such as "plan," "estimate," "expect," "intend," "may," "likely" and similar expressions are forward-looking statements. Although SouthGobi believes that the expectations reflected in these forward-looking statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statements. Important factors that could cause actual results to differ from these forward-looking statements are disclosed under the heading "Risk Factors" in SouthGobi's Management Discussion and Analysis of Financial Condition and Results of Operations for the year ended Dec. 31, 2011 which is available at

Contact Information

  • SouthGobi Resources Ltd.
    Dave Bartel
    Vice President Investor Relations and External Affairs
    (Hong Kong)
    +852 2156 7023