Ciner Resources owns 51% of Big Island Mine and Production Facility in Green River, Wyoming which mines trona, naturally transforming it into soda ash. This natural process provides Ciner Resources with a sustainable cost advantage over competitors that manufacture soda ash synthetically with chemicals. In addition, the lower cost profile allows Ciner to ship soda ash all over the world, while remaining competitive with global synthetic producers.
Since the initial public offering (IPO) in September of 2013, Ciner Resources has raised its quarterly distribution by more than 13% and remains committed to growing the annualized distribution moving forward.
The Board of Directors of Ciner Resource Partners LLC, our general partner, will provide oversight of our operations and activities. The Board has established two independent committees: the Audit Committee and the Conflicts Committee. The charters for the Audit Committee and the Conflicts Committee, the Corporate Governance Guidelines, the Code of Conduct and Ethics, the Internal Reporting and Whistleblower Protection Policy and the Insider Trading Policy are found below.
Yes, we pay what are called distributions to our unitholders of record on a quarterly basis (similar to quarterly dividends paid by a corporation to its shareholders)
When publicly traded, MLP units may be bought and sold like stock, providing investors investment liquidity
Tax-advantaged income stream
A portion of the distribution may be shielded from ordinary income taxes and treated as a reduction in a unitholder’s original cost basis in the investment
Kirk Milling has served as the President and CEO of Ciner Resources Corporation. He has also been a Director for American Natural Soda Ash Corporation (ANSAC) since 2001 and Vice Chairman of the Audit Committee since January 2016. Kirk was appointed as a Director, President, and CEO of our General Partner Ciner Resource Partners LLC in April 2013 and appointed as Chairman of the Board in October 2015. He is responsible for the strategic direction, vision, and growth of Ciner Resources Corporation, the wholly owned subsidiary of Ciner Enterprises Inc.
Kirk has more than 25 years of senior level experience in the chemical industry with nearly 15 of those years in management at Ciner. His previous experience includes positions at Rhone-Poulenc and Stauffer Chemical Company. Kirk has a Bachelor of Science in Biochemistry from Texas A&M University and a Master of Business Administration from the University of Connecticut.
Kevin Kremke
Chief Financial Officer
Kevin Kremke joined Ciner as Chief Financial Officer in June 2014. Kevin leads the finance team for Ciner Resources Corporation and Ciner Resource Partners LLC, the general partner of Ciner Resources LP. His responsibilities include overseeing Ciner’s overall financing activities, strategic planning, investor relations, treasury, and accounting. In addition, Kevin serves on the Audit Committee of the Board of Directors for American Natural Soda Ash Corporation (ANSAC).
Kevin has nearly 20 years of senior management experience, most recently as the Vice President of Finance and Strategic Planning at Cheniere Energy, Inc. He has also held senior positions at Spark Energy, Reliant Energy, and NiSource Inc. Kevin earned a Bachelor of Science in Marketing from Ball State University and a Master of Business Administration in Finance and Strategic Management from the University of Chicago Booth School of Business.
Thomas W. Jasper
Independent Director
Thomas W. Jasper was appointed as a director of our general partner in January 2016. Mr. Jasper has served as Managing Partner of Manursing Partners, LLC, since 2011, and also previously served as Chief Executive Officer of Primus Guaranty, Ltd. from 2001 to 2010. Prior to joining Primus, Mr. Jasper served for 17 years as a key executive of Salomon Brothers, Inc. and its successor companies. Mr. Jasper’s accomplishments at Salomon included: establishing its interest rate swap business, running its Debt Capital Markets platform, serving as Chief Operating Officer of the Asia Pacific Region based in Hong Kong and as Global Treasurer. In 1984 while at Salomon, Mr. Jasper co-founded the International Swaps and Derivatives Association (“ISDA”) and served as its first Co-Chairman. Mr. Jasper currently serves on the Board of Directors and as Chair of the Audit Committee of the Blackstone funds Blackstone/GSO Senior Loan Fund, Blackstone/GSO Long-Short Credit Income Fund, Blackstone/GSO Strategic Credit Fund and Blackstone Real Estate Investment Fund. Mr. Jasper also serves on the board of three non-profits: Phoenix House Foundation, where he is Chairman of the Board, Wellspring Foundation and the SMU Cox School of Business. He received his BBA from Southern Methodist University and his MBA from the University of Texas.
Angela A. Minas
Independent Director / Chairman of the Audit Committee
Angela Minas was appointed as a director of our general partner in December 2013. Ms. Minas currently serves on the Board of Directors and as Chair of the Audit Committee of the general partner of CONE Midstream Partners LP. She also serves on the Board of Directors of the general parter of Westlake Chemical Partners. Ms. Minas served as Vice President and Chief Financial Officer for DCP Midstream Partners from September 2008 to May 2012. She served as Chief Financial Officer, Chief Accounting Officer and Treasurer of Constellation Energy Partners from September 2006 to March 2008. Prior to her experience in the MLP sector, Ms. Minas served as Senior Vice President, Global Consulting and Vice President, US Consulting for Science Applications International Corp. She was a Partner with Arthur Andersen LLP from 1997 through 2002. Ms. Minas is a graduate of Rice University, where she earned a Bachelor of Arts in Managerial Studies and a Master of Business Administration with a concentration in Finance and Accounting.
Michael E. Ducey
Independent Director
Michael Ducey was appointed as a director of our general partner in September 2014. Mr. Ducey is the retired President, CEO and Director of Compass Minerals International, Inc., the second largest salt producer in North America and the largest in the U.K. Prior to joining Compass Minerals, he was a 30-year veteran of Borden Chemical, Inc., where he worked in various management, sales, marketing, planning and commercial development roles culminating in President, CEO and Director. Mr. Ducey currently serves as a board member and chairman of the audit committee of Verso Paper Holdings, Inc. In addition, he serves on the board of HaloSource, Inc. and Apollo Global Management LLC, a private equity firm. Mr. Ducey is a graduate of Otterbein College, where he earned a Bachelor of Arts; he earned a Master of Business Administration from the University of Dayton.
Doğan Pençe
Director
Doğan Penҫe was appointed as a director of our general partner in April 2017. Mr. Penҫe has been a board member responsible for finance and strategy for Park Holding A.S. of the Ciner Group since December 2009, and was the Group CFO of Park Holding from December 2009 to March 2016. Prior to joining Park Holding, Mr. Pençe served as Executive Vice President of Credits VakifBank A.S., one of the largest banks in Turkey. Mr. Pençe holds a Bachelor’s degree in Political Science from the Istanbul University.
Oğuz Erkan
Director
Oğuz Erkan was appointed as a director of our general partner in July 2016. Since November 2015, Mr. Erkan has served as Director of International Operations & Coordination at our ultimate US parent company, Ciner Enterprises Inc. From January 2015 to November 2015, Mr. Erkan served as Director for Ciner Group in London, UK. Prior to this assignment, from June 2012 until January 2015 Mr. Erkan served as General Manager of Kasimpasa AS, a subsidiary of Ciner Group, and from 2009 to 2012 served as a Project Director for Middle East and North Africa. Mr. Erkan holds a Bachelor’s Degree in Marketing and Bachelor’s Degree in International Business from Northwest Missouri State University.
Alec G. Dreyer
Independent Director
Alec G. Dreyer was appointed director to our General Partner in July 2018. Mr. Dreyer has served since 2012 as a Senior Advisor to IFM Investors, a leading investment management company with over $75 billion under management. He also served as Chairman of the Board of Managers and Audit Committee Chair for Essential Power Investments LLC, an IFM Investors holding prior to its sale in 2016. Mr. Dreyer served as Chairman of the Board, Lead Director and Audit Committee Chair for Comverge, Inc., a clean energy company when it was listed on NASDAQ. Mr. Dreyer also served on the Board of Directors for EcoSecurities Group plc when it was listed on the London Stock Exchange.
Prior to his Board tenure, Mr. Dreyer has served as Chief Executive Officer of the Port of Houston Authority, one of the nation’s leading ports. He also was Chief Executive Officer for Horizon Wind Energy LLC, when it was a wholly-owned subsidiary of Goldman Sachs & Co. He also has held senior leadership positions at Dynegy Inc., Illinova Corporation, and Illinois Power Company. Mr. Dreyer started his career with Price Waterhouse in St. Louis.
Mr. Dreyer is a Certified Public Accountant, is a Phi Beta Kappa graduate in Political Science and Pre-Law from the University of Illinois, and holds a Masters of Business Administration Degree with distinction from Washington University in St. Louis.
Atilla Ciner
Director
Atilla Ciner was appointed as a director of our general partner in September 2017. Mr. Ciner is currently Vice President of the Ciner Group. Most recently, he was Vice President at Eti Soda from 2016 to June 2017. Previously, he was Chairman and President of Ciner Yapi Teknik, a construction planning, engineering and excavation business for the mining industry in Turkey from 2012 through 2016. Mr. Ciner holds a Bachelor’s degree in Journalism from Yeditepe University and is fluent in both Turkish and English languages.
