Makhado Project NOMR Application Accepted (0551C)
March 01 2011 - 2:13AM
UK Regulatory
TIDMCZA
RNS Number : 0551C
Coal of Africa Limited
01 March 2011
-ANNOUNCEMENT 01 March 2011
MAKHADO PROJECT NEW ORDER MINING RIGHT APPLICATION ACCEPTED
Coal of Africa Limited ("CoAL" or "the Company") is pleased to
advise that it has received the acceptance letter from the
Department of Mineral Resources ("DMR") for the New Order Mining
Right Application for the Makhado Coking Coal Project lodged on 24
January 2011.
The acceptance letter triggers the commencement of the rigorous
process that is required prior to the final granting of the
NOMR.
The Company is progressing with extensive economic, social and
environmental impact studies as part of an intensive process of
formulating the detailed Environmental Management Programme.
The detailed design phase of the Makhado Project will commence
once the Definitive Feasibility Study ("DFS") has been finalised
and approved by the CoAL board of directors. The Company
anticipates that this will occur by the end of the June
quarter.
JOHN WALLINGTON
Chief Executive Officer
For more information contact
Simon Farrell Executive Deputy Chairman Coal of Africa +61 417
985 383
John Wallington Chief Executive Officer Coal of Africa +27 11
575 7423
Blair Sergeant Finance Director Coal of Africa +27 11 575
6797
Ryan Rockwood Associate Director Azure Capital +61 447 760
058
Rob Collins / Romil Patel / Chris Sim Nominated Adviser
Evolution Securities +44 20 7071 4300
Jos Simson/Emily Fenton Financial PR Tavistock +44 207 920
3150
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 2013 and timing for Vele to reach production is still
to be confirmed. These operations are targeted to collectively
produce an initial 2Mtpa ramping up to a combined annual output of
10Mtpa 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.
Resource Estimation:
The information in this report that relates to exploration
results, mineral resources or ore reserves in respect of the
Makhado coking coal project is based on information compiled by
Mark Craig Stewardson, who is registered as a Professional Natural
Scientist (Pr Sci Nat, Reg. No. 400119/93) with the South African
Council for Natural Scientific Professions ("SACNASP"), which is a
Recognised Overseas Professional Organisation ("ROPO") in terms of
the JORC Code. Mark Craig Stewardson is employed by Mineral
Corporation Consultancy and has sufficient experience that is
relevant to the style of mineralisation and type of deposit under
consideration and to the activity which he is undertaking to
qualify as a Competent Person as defined in the JORC Code. Mark
Craig Stewardson consents to the inclusion in this announcement of
the matters based on his information in the form and context in
which it appears.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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