CEO Resigns from Australian Company that Owns Troubled Western Kentucky Coal Mine
The CEO of the Australian company that owns a financially and geologically troubled coal mine in western Kentucky has resigned.
Paringa Resources announced the resignation of Egan Antill effective March 31.
Paringa’s wholly-owned subsidy, Hartshorne Mining Group, began operations at the Poplar Grove Mine in McLean County, about 30 miles south of Owensboro, in December 2018.
Paringa has since discovered an unexpected geological fault in the region and has experienced financial trouble.
The company halted the trading of its stock on the Australian Securities Exchange last December.
Paringa has filed for bankruptcy, and is attempting to sell the Poplar Grove mine, as well as the undeveloped Cypress coal project located nearby.
Paringa Resources is based in Perth, Australia.