LONDON--Continental Coal Ltd. (CCC.AU), a South African thermal
coal production, development and exploration company, said Friday
the South African Department of Mineral Resources has granted their
consent for the transfer of the prospecting right required to start
Vaalbank coal exploration project.
MAIN FACTS:
-The exploration project consists of a 50:50 joint exploration
program with Forzando Coal, 74% owned by Total Coal South Africa, a
subsidiary of international energy company, Total SA (FP.FR).
-Under the terms of the joint exploration program, the Group and
Forzando Coal will commence a two phase exploration program
comprising of 20 exploration holes upon approval by both
companies.
-Continental Coal shares in London at 0915 GMT up 3.61%, at 2
pence valuing the company at 14.2 million pounds.
-Write to Ian Walker at ian.walker@wsj.com
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