Moravec stepped down “to pursue other opportunities and this decision was not the result of any disagreement” with Rhino, the company said. Moravec entered into a “consulting arrangement with the general partner of the partnership commencing immediately upon his final day of employment,” it added. Rhino is organized as a master limited partnership.
Two years ago, Moravec played an instrumental role during the company’s successful efforts to go public in the U.S.
Prior to becoming executive vice president, Moravec served as senior vice president of business development for Rhino Energy, starting in March 2007, and president of the company’s Kentucky operations beginning in September 2009. Before joining Rhino, he was employed by PNC Bank for more than 22 years.
Rhino produces both steam and metallurgical coal in three regions of the country: Central Appalachia, Northern Appalachia and the Illinois Basin. The company mines more than 7 million tons of coal annually and had proven and probable reserves of 285.4 million tons and an estimated 122.2 million tons of non-reserve coal deposits as of March 31, 2010.