SouthGobi CFO quits in yet another top-level departure

Mon Nov 5, 2012 9:25am EST

Nov 5 (Reuters) - Coal miner SouthGobi Resources Ltd said Chief Financial Officer Matthew O'Kane has resigned, months after the company fired its chief executive after Aluminum Corp of China Ltd (Chalco) dropped a $926 million bid.

CEO Alexander Molyneux quit in September after Chalco pulled its bid for SouthGobi amid political opposition in Mongolia, where the Canadian Company has most of its operations.

The resignation of O'Kane, who joined the company in January 2011, is effective Nov. 5, SouthGobi said.

The company fired Chief Operating Officer Curtis Church last month.

SouthGobi's shares have fallen 65 percent this year. They closed at $2.08 on Friday on the Toronto Stock Exchange.

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.