29 Jun 2011 07:10
ANNOUNCEMENT 29 JUNE 2011
DIRECTOR'S CHANGE OF INTEREST
Please find attached an Appendix 3Y "Change of Director's Interest Notice" provided on behalf of Mr Simon Farrell. Mr Farrell has advised the Company this sale of shares was undertaken to provide funds to assist with the purchase of a residence in London.
AUTHORISED BY:
Shannon Coates
Company Secretary
For more information contact
John Wallington Chief Executive Officer Coal of Africa +27 11 575 7423
Wayne Koonin Financial Director Coal of Africa +27 11 575 6797
Chris Sim / Romil Patel / Jeremy Ellis Nominated Adviser Evolution Securities +44 20 7071 4300
Yvette Labuschagne / Annerie Btiz/ JSE Sponsor Macquarie +27 11 583 2000
Melanie de Nysschen
Jos Simson / Emily Fenton Financial PR Tavistock +44 207 920 3150
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 thermal 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 2013 and timing for Vele to reach production is still to be confirmed. These operations are targeted to collectively produce an initial 2mtpa ramping up to a combined annual output of 10mtpa of coking coal.
In 2010, CoAL completed the ZAR467 million 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 Zonnebloem mine producing approximately 300kt per month of ROM coal and has recently commenced production at a Hartogshoop mine.