Response to Press Statement (7606U)
October 21 2010 - 2:55AM
UK Regulatory
TIDMCZA
RNS Number : 7606U
Coal of Africa Limited
21 October 2010
-ANNOUNCEMENT 21 OCTOBER 2010
Response to Press Statement
Coal of Africa Limited ("CoAL" or "the Company") notes the
recent article published by Bloomberg on 14 October 2010 regarding
the Company's Vele Colliery in the Limpopo Province of South
Africa.
The Company would like to clarify that no decision has been made
as yet by the Department of Environmental Affairs ("DEA") or the
Department of Water Affairs in relation to the recommencement of
development and the granting of the Integrated Water Use License
application for the Vele Colliery.
CoAL is in active dialogue with the DEA and remains hopeful
development can re-commence in Q4 2010. The Company will continue
to keep the market informed of relevant progress. JOHN
WALLINGTON
Chief Executive Officer
For more information contact:
John Wallington / Blair Sergeant CoAL +27 (0) 11 575 4363
Simon Edwards / Chris Sim Evolution Securities +44 (0) 20 7071
4300
Jos Simson / Leesa Peters Conduit PR +44 (0) 20 7429 6603
Melanie de Nysschen/Annerie Britz/
Yvette Labuschangne Macquarie First South Advisers +27 (0) 11
583 2000
www.coalofafrica.com
About CoAL
CoAL is an AIM/ASX/JSE listed coal mining and development
company operating in South Africa. CoAL's key projects include the
Woestalleen Colliery, the Mooiplaats thermal coal mine, the Vele
coking coal project and the Makhado coking coal project.
The Mooiplaats coal mine commenced production in 2008 and is
currently ramping up to produce 2 million tonnes per annum
("Mtpa"). CoAL's Makhado coking coal project is expected to start
production in 2012 and timing for Vele to reach production is
expected tp commence Q4 2010. These operations are targeted to
collectively produce an initial 2 Mtpa ramping up to a combined
annual output of 10 Mtpa of coking coal.
In 2010, CoAL completed the ZAR467m acquisition of NuCoal Mining
(Pty) Limited ("NuCoal"), a thermal coal producer with assets in
South Africa in close proximity to CoAL's Mooiplaats mine. NuCoal
owns the Woestalleen Colliery, which has a number of off-take
contracts in place and processes approximately 2.5Mtpa of saleable
coal for domestic and export markets. NuCoal also owns two
beneficiation plants, one fully operational mine producing
approximately 300kt per month of ROM coal and has recently
commenced production at a second mine.
CoAL currently has 1 Mtpa export capacity at the Matola Terminal
in Maputo, Mozambique, increasing to 3 Mtpa on completion of the
next phase of expansion at the terminal. CoAL also has the option
to participate in further expansion at the Matola Terminal, which
is expected to increase the capacity at the terminal by an
additional 10 Mtpa.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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