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ZYL Limited Appoints Yuzheng Xie As New Chairman

ZYL Limited (ASX: ZYL) has appointed experienced iron ore trader Yuzheng Xie as its non-executive chairman.

Xie has an extensive steel material marketing and trading background and is a seasoned dealmaker with experience in securing project finance and capitalizing junior mining companies.

Importantly, he brings to the company a network of financiers who will assist the company in its future objectives.

The Anthracite project developer is pressing ahead with its Kangwane and Mbila projects after settling legal disputes with the Mbila project vendors and making changes to project ownership.

This has received further impetus from a recapitalisation, which will add about $13 million to its coffers.

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