Last checked at 30 May 2017 07:00
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:
David Brown | Chief Executive Officer | Coal of Africa | +27 10 003 8000 |
De Wet Schutte | Chief Financial Officer | Coal of Africa | +27 10 003 8000 |
Celeste Riekert | Investor Relations | Coal of Africa | +27 10 003 8000 |
Tony Bevan | Company Secretary | Endeavour Corporate Services | +61 08 9316 9100 |
Company advisors:
Matthew Armitt/Ross Allister | Nominated Adviser and Broker | Peel Hunt LLP
| +44 20 7418 8900 |
Jos Simson/Emily Fenton | Financial PR (United Kingdom) | Tavistock | +44 20 7920 3150 |
Charmane Russell/Olwen Auret | Financial PR (South Africa) | Russell & Associates | +27 11 880 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).