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28 Oct 2010 11:00
-ANNOUNCEMENT 28 OCTOBER 2010
CEO PRESENTATION
Coal of Africa Limited's CEO, Mr John Wallington, presented the Company's First quarter 2011 results this morning in Johannesburg, South Africa at 11:30am local time.
Shareholders are advised that the presentation is now available on the Company's website at www.coalofafrica.com.
AUTHORISED BY:
Shannon Coates
Company Secretary
For more information contact:
John Wallington / Blair Sergeant CoAL +27 (0) 11 575 4363
Simon Edwards / Chris Sim Evolution Securities +44 (0) 20 7071 4300
Jos Simson / Leesa Peters Conduit PR +44 (0) 20 7429 6603
Melanie de Nysschen/Annerie Britz/
Yvette Labuschangne Macquarie First South Advisers +27 (0) 11 583 2000
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 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 2012 and timing for Vele to reach production is expected tp commence Q1 2011. These operations are targeted to collectively produce an initial 2 Mtpa ramping up to a combined annual output of 10 Mtpa of coking coal.
In 2010, CoAL completed the ZAR467m 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 mine producing approximately 300kt per month of ROM coal and has recently commenced production at a second mine.
CoAL currently has 1 Mtpa export capacity at the Matola Terminal in Maputo, Mozambique, increasing to 3 Mtpa on completion of the next phase of expansion at the terminal. CoAL also has the option to participate in further expansion at the Matola Terminal, which is expected to increase the capacity at the terminal by an additional 10 Mtpa.
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