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Coal of Africa's production hit by strikes

Fri, 01st Feb 2013 09:48

Coal of Africa on Friday said production fell over the last three months of 2012 following strikes at its Mooiplaats mine in South Africa.The mining company reported a 24% quarter-on-quarter drop in run of mine coal output from 1.52m tonnes to 1.15m tonnes. Coal sales to the domestic market declined by 17.8% to 154,186 tonnes.Production and sales were hit hard in Mooiplaats after the group was forced to suspend operations over wage related strikes.The employees, 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. However, export coal sales from the Matola Terminal in Mozambique increased by 83% to 411,292 tonnes due to improved demand, availability of rail capacity and the reduction of inventory build-up in the previous quarter.During the period the company acquired the Chapudi coal project in South Africa from Rio Tinto Minerals Development. Coal of Africa also confirmed the receipt of $80m for the conditional placement from Haohua Energy International company following regulatory approvals from the Australian Foreign Investment Review Board, authorities in the People's Republic of China and consent from shareholders. The group had $18.7m cash available at the end of the quarter. Shares were down 1.10% to 22.50p at 10:07 Friday.RD
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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

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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

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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

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29 Jul 2016 10:07

Coal Of Africa Expects Makhado Project Construction To Start In 2017

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15 Jul 2016 12:26

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

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4 May 2016 09:55

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

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29 Apr 2016 10:36

Coal Of Africa Progresses Universal Coal Deal, Hengshun Investment

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11 Apr 2016 11:56

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

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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

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8 Apr 2016 08:50

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

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8 Apr 2016 07:17

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

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14 Mar 2016 07:33

Coal Of Africa First Half Loss Widens On Foreign Exchange Loss

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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

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8 Mar 2016 10:42

Coal Of Africa To Dispute Claims It Has Breached Obligations

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25 Feb 2016 16:25

AGM, EGM Calendar - Week Ahead

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