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New CEO for New Hope

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Coal miner New Hope Corporation is getting a new chief executive.

The SMH reported present chief financial officer Shane Stephan will start the new role as chief executive at the beginning of February next year, replacing Robert Neale.

Stephan was formerly a Queensland mines inspector and worked at Macarthur Coal Limited before starting at New Hope in 2009.

The company said in a statement the new appointment is part of a long-run succession strategy.

The company’s chairman Robert Milner said Neale was “instrumental” in the company’s prosperity and said Stephan would continue this.

New Hope looked to secure an alternative fuel supply for some of its operations by constructing a coal to diesel plant at the Jeebropilly mine in Queensland earlier this year.

It said it would build a small research and development plant at the mine, aiming to provide a cheaper diesel fuel alternative.

The miner shut down its Oakleigh coal mine in Queensland’s Moreton Basin as production rates slumped.

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