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9 Dec 2015 12:02
ANNOUNCEMENT 09 DECEMBER 2015
UDPATE ON INTERIM INTERDICT ON THE ENVIRONMENTAL AUTHORISATION OF the MAKHADO PROJECT
In December 2014, an interim court interdict was issued against the Environmental Authorisation for the Makhado Project.
CoAL launched a counter- application in March 2015 to set the interdict aside. On Thursday, 3 December 2015, this matter was heard in the North Gauteng High Court. After hearing argument from counsel from both parties, judgment was reserved and the matter postponed to consider the papers filed and arguments made.
Judgement was handed down on Tuesday 8 December 2015 on two matters, firstly being the condition to compel CoAL to conduct a Strategic Regional Impact Assessment and secondly a review of the Environmental Authorisation. The condition compelling CoAL to conduct a Strategic Regional Impact Assessment has been set aside. The interim interdict against the Environmental Authorisation remains in place pending the review of the authorisation.
Based on the interim nature of the interdict, and various other factors, we do not believe that it will delay our timeline regarding the commencement of the construction in H2 2016.
CoAL will study the judgment in detail, and will review its various options available.
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:
Jos Simson/Emily Fenton | Financial PR (United Kingdom) | Tavistock | +44 20 7920 3150 |
Matthew Armitt/Ross Allister | Nominated Adviser | Peel Hunt LLP
| +44 20 7418 8900 |
Charmane Russell/Jane Kamau | 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).
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