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MEI Online: People News: Australasia: October 31st 2007


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:: Peter Coates to Retire as CEO of Xstrata Coal

Xstrata plc ("Xstrata") announces the retirement of Peter Coates, Chief Executive Xstrata Coal. Mr Coates will step down from his current role and from Xstrataís Executive Committee on 1 January 2008 and will remain with the Group on a full-time basis until 31 March 2008. From 1 April 2008, Mr Coates will take up the position of Chairman, Xstrata Australia Limited, and will provide, on a consultative basis, support to Xstrata in the area of government, industry and non-governmental organisation relations in Australia.

Peter Freyberg, currently Director of Operations, Xstrata Coal, will become Chief Executive, Xstrata Coal from 1 January 2008 and will join Xstrataís Executive Committee from that date.

Mick Davis, Xstrata Chief Executive, commented: "Peter Coates has played an important and decisive role in shaping Xstrata since its creation in 2002 and leaves an impressive legacy at Xstrata Coal, having built the premier thermal coal business in the industry today."

"Peterís long and distinguished career in the mining industry includes senior positions across a number of commodities and at the forefront of industry initiatives including as Chairman of the Minerals Council of Australia and more recently as a member of the Australian Prime Ministerís Emissions Trading Taskforce. I am delighted that Xstrata will continue to benefit from Peterís considerable industry expertise and strong external relationships through his role as Chairman, Xstrata Australia."

"I would like to extend to him our best wishes and thank him, personally and on behalf of the Group, for the outstanding contribution he has made to Xstrata."

"I also congratulate Peter Freyberg on his appointment as Chief Executive, Xstrata Coal. Peter brings with him over 28 years of international coal mining industry experience and has played a pivotal role in the success of Xstrata Coal, working closely with Peter Coates. I have every confidence that under his leadership, Xstrata Coal will continue to grow and deliver outstanding operational performance."




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