Vele Colliery Environmental Authorisation Granted (8383J)
July 06 2011 - 2:00AM
UK Regulatory
TIDMCZA
RNS Number : 8383J
Coal of Africa Limited
06 July 2011
ANNOUNCEMENT 6 JULY 2011
VELE COLLIERY ENVIRONMENTAL AUTHORISATION GRANTED
Coal of Africa Limited ("CoAL" or the "Company") is pleased to
advise that with reference to the application for rectification in
terms of Section 24G of the South African National Environmental
Management Act, 107 of 1998 ("NEMA") authorisation has been granted
by the Department of Environmental Affairs ("DEA") with effect from
5 July 2011. As expected the authorisation contains specific
conditions the Company will be required to fulfil due to the
uniqueness of the area.
The construction phase at Vele is expected to be completed
within six to nine months from the restart date and will ultimately
ramp up to an initial production profile of 1 million tonnes per
annum. Re-employment of staff and contractors will be phased in
line with the production ramp-up.
John Wallington, Chief Executive Officer of CoAL commented, "We
welcome the decision by the DEA which acknowledges the Company's
efforts in achieving compliance under NEMA. As stated previously
the Colliery has an approved NOMR and Environmental Management
Program from the Department of Mineral Resources. This development
is a further significant step towards the re-opening of the mine.
Vele has the potential to bring significant positive benefits to
the Limpopo region and to the South African economy as a whole.
We are very aware of our broader obligation to the responsible
development of our assets, and we are acutely aware of the
sensitivity of the area and the significant responsibilities the
approval brings.We are committed to engaging continually with all
key stakeholders as development resumes and operations
commence."
The Company will update the market of further developments in
this regard.
Authorised by
JOHN WALLINGTON
Chief Executive Officer
06 July 2011
For more information contact
John Wallington Chief Executive Officer Coal of Africa +27 11
575 7423
Wayne Koonin Financial Director Coal of Africa +27 11 575
6797
Chris Sim / Romil Patel / Jeremy Ellis Nominated Adviser
Evolution Securities +44 20 7071 4300
Yvette Labuschagne / Annerie Btiz/ JSE Sponsor Macquarie +27 11
583 2000
Melanie de Nysschen
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 thermal 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 ZAR467 million 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 Zonnebloem mine
producing approximately 300kt per month of ROM coal and has
recently commenced production at a Hartogshoop mine.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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