Drummond Ltd., which has coal mining operations in Colombia, said Nov. 6 that Augusto Jimenez has tendered his resignation as President of Drummond Ltd., which will be effective as of Dec. 31, 2012.
Jose Miguel Linares, Vice President-Legal Drummond Ltd., will assume the duties of Interim President of Drummond Ltd. on Jan. 1, 2013, while a search is completed for a replacement.
Jimenez has served as President of Drummond Ltd. since 1990, during which time he has been instrumental in developing the company from a start up operation in Colombia to the second largest coal mining company in the country. Jimenez has led the company through various phases of development including contract negotiations, permit approvals, human resource development, administrative and legal functions, and government relations just to mention a few, Drummond noted.
“We will all miss Mr. Jimenez and we wish him well in all his future endeavors,” said the company. “It has been an honor for each of us at Drummond to work and grow with the guidance provided by Mr. Jimenez. Fortunately for Drummond, Mr. Jimenez has agreed to continue as a consultant to the company and member to the board of directors in order to provide future guidance as we continue to grow and develop our various operations in Colombia.”
Alabama-based Drummond Co. Inc. and its affiliates mine coal in Colombia through an 80% ownership interest in Drummond International LLC, a joint venture with Japan’s ITOCHU Corp. formed in October 2011. Drummond International, through its subsidiaries, including Drummond Ltd., owns and operates coal mining and transportation assets, the Drummond Co. website noted.
The Drummond International operation includes the Mina Pribbenow and El Descanso surface coal mines located in the Cesar Coal Basin near La Loma; Puerto Drummond, a deep-water ocean port on the Caribbean Sea near Santa Marta; and coal transportation and handling facilities. The company has grown its shipments of coal from one million tons in 1995 to about 25 million tons in 2011. This coal moves heavily into the power plant market along the U.S. East and Gulf coasts.