Coal of Africa Limited APPEAL LIFTED AGAINST WATER USE LICENCE AT MAKHADO (4721G)

TIDMCZA

RNS Number : 4721G

Coal of Africa Limited

30 May 2017

ANNOUNCEMENT 30 May 2017

Minister LIFTS THE appeal against INTEGRATED WATER USE LICENCE AT MAKHADO PROJECT

Coal of Africa Limited ("CoAL" or the" Company") is pleased to advise that the suspension of the Integrated Water Use Licence ("IWUL") for the Makhado Project has been lifted by the South African Minister of the Department of Water and Sanitation ("DWS"), Ms Nomvula Mokonyane.

In April 2016, an appeal was lodged against the decision by the DWS to grant an IWUL to Baobab Mining and Exploration (Pty) Ltd ('Baobab") for Makhado in terms of Section 41 of the South African National Water Act (Act 36 of 1998) ('the Act'). Following representation by the company in May 2016 and February 2017, the Minister exercised her discretion and lifted the suspension in terms of Section 148 (2) (B) of the Act. The IWUL is now executable. The appellants have the opportunity to voice their concerns through the Water Tribunal.

The lifting of the appeal by the Minister and the recently announced finance facility by the IDC are key steps in the advancing of the Makhado Project.

Chief Executive officer of CoAL said, "The lifting of the suspension of the IWUL by the Minister is welcomed as this decision completes the suite of regulatory authorisations required for the Makhado Project. It further confirms government's support for the Makhado Project and its potential to drive sustainable socio-economic transformation. We will continue to work with all parties to ensure that the matter is completed satisfactorily, and furthermore to secure the remaining surface rights."

Authorised by

David Brown

Chief Executive Officer

For more information contact:

 
                    Chief Executive                              +27 10 003 
 David Brown         Officer              Coal of Africa          8000 
                    Chief Financial                              +27 10 003 
 De Wet Schutte      Officer              Coal of Africa          8000 
                                                                 +27 10 003 
 Celeste Riekert    Investor Relations    Coal of Africa          8000 
                                          Endeavour Corporate    +61 08 9316 
 Tony Bevan         Company Secretary      Services               9100

Company advisors:

 
 Matthew Armitt/Ross       Nominated Adviser    Peel Hunt      +44 20 
  Allister                  and Broker           LLP            7418 8900 
 Jos Simson/Emily          Financial PR                        +44 20 
  Fenton                    (United Kingdom)    Tavistock       7920 3150 
 
 Charmane Russell/Olwen    Financial PR         Russell &      +27 11 
  Auret                     (South Africa)       Associates     880 3924 
                                                                or 
                                                                +27 82 
                                                                372 5816

Investec Bank Limited is the nominated JSE Sponsor

About CoAL:

CoAL is an AIM/ASX/JSE listed coal exploration, development and mining company operating in South Africa. CoAL's key projects include the Vele Colliery (coking and thermal coal), the Greater Soutpansberg Project /MbeuYashu, including CoAL's Makhado Project (coking and thermal coal).

This information is provided by RNS

The company news service from the London Stock Exchange

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