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Coal of Africa falls following strike at Mooiplaats mine

Tue, 04th Dec 2012 14:24

Coal of Africa, a South Africa-based mining exploration and development company, fell on Tuesday on confirmation that employees at its Mooiplaats mine in South Africa have gone on strike.The employees, who are associated with the National Union of Mineworkers, were protesting against the suspension of four workers, due to alleged misconduct and breach of the picketing rules during a 'legal' strike in October 2012.Coal of Africa reported that all four underground sections have stopped operations and management is in discussion with NUM representatives to resolve the matter and ensure the workers resume their shifts. When fully operational the mine produces 6,000 tonnes of coal a day, yet sporadic disruption has hampered production there. Moreover, the company announced on November 7th that it had begun a formal restructuring process intended to move the operation to sustainability and likely to result in job losses. The colliery directly employs 368 people of which 244 are NUM members.For the year ending June 30th 2012 the Coal of Africa delivered a pre-tax loss of approximately $150m dollars (2011: $218m). The stock has fallen 80% over the past year from a high of 73.5p to 11.5p at 14:30.CM

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17 Feb 2017 15:35

Coal of Africa clears loan with equity conversion

(ShareCast News) - Coal of Africa announced on Friday that it received notice from Yishun Brightrise Investment requesting the conversion of a $10m loan to CoAL's ordinary share capital. The AIM-traded firm had entered into a loan agreement with YBI during September 2015, pursuant to which YBI advan

2 Nov 2016 11:06

South Africa dismisses appeal against Coal of Africa's environment amendment

(ShareCast News) - AIM-listed miner Coal of Africa has announced that the South African government has dismissed an appeal against the environmental authorisation amendment for its Makhado mine in the Limpopo Province. Edna Molewa, the minister of the Department of Environmental Affairs, dismissed t

28 Oct 2016 14:23

Coal of Africa still looking for cash-generating asset

(ShareCast News) - South-Africa focused Coal of Africa updated the market on the quarter ended 30 September on Friday. The AIM-traded company said there were no lost-time injuries recorded during the quarter, continuing on the perfect record seen in the fourth quarter of the 2016 financial year. It

29 Jul 2016 10:07

Coal Of Africa Expects Makhado Project Construction To Start In 2017

15 Jul 2016 12:26

Coal Of Africa Offer For Universal Coal Lapses, Deal Breaks Down

4 May 2016 09:55

Coal Of Africa Shares Jump 48% As Its Reaches Agreement On Chapudi

29 Apr 2016 10:36

Coal Of Africa Progresses Universal Coal Deal, Hengshun Investment

11 Apr 2016 11:56

Coal Of Africa Replaces Subscription Agreement For USD15 Million Loan (ALLISS)

8 Apr 2016 11:46

Coal of Africa water use licence suspended at Makhado

(ShareCast News) - Coal of Africa had its Integrated Water Use Licence on the Makhado Project suspended on Friday, following an appeal to the South African Department of Water and Sanitation, submitted by the Vhembe Mineral Resources Forum and other parties. The appeal automatically suspended the li

8 Apr 2016 08:50

UPDATE: Coal Of Africa Water Licence Suspended, Takeover Deal Advances

8 Apr 2016 07:17

Coal Of Africa Shares Fall As Makhado Water Use Licence Is Suspended

14 Mar 2016 07:33

Coal Of Africa First Half Loss Widens On Foreign Exchange Loss

11 Mar 2016 15:46

Coal of Africa bid for Universal progressing, board says

(ShareCast News) - Coal of Africa's bid for Universal Coal was progressing satisfactorily, its board said on Friday, with the company sticking to its planned timetable for the offer. The AIM-traded firm said it had received the written consent of Investec Bank to the implementation of the offer, sat

8 Mar 2016 10:42

Coal Of Africa To Dispute Claims It Has Breached Obligations

25 Feb 2016 16:25

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