Last checked at 2 Jul 2012 16:27
-ANNOUNCEMENT 2 July 2012
COAL OF AFRICA
Holdings in Company
The Company was notified on 2 July 2012 by M&G Investments ("M&G") that, as at 28 June 2012 M&G held 119,670,000 ordinary shares of nil par value each in the Company, representing 17.96 per cent of the Company's issued share capital.
AUTHORISED BY:
Shannon Coates
Company Secretary
For more information contact
John Wallington Chief Executive Officer Coal of Africa +27 11 575 4363
Wayne Koonin Financial Director Coal of Africa +27 11 575 4363
Shannon Coates Company Secretary Coal of Africa +61 893 226 776
Chris Sim/ Jeremy Ellis/ Neil Elliot Nominated Adviser Investec Bank plc +44 20 7071 4300
Jos Simson/Emily Fenton Financial PR (United Kingdom) Tavistock +44 207 920 3150
Reuben Govender JSE Sponsor J.P. Morgan Equities Limited +27 11 507 0430
Charmane Russell/Jane Kamau Financial PR (South Africa) Russell & Associates +27 11 880 3924
+27 82 372 5816
www.coalofafrica.com
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, including CoAL's Makhado Project (coking coal) and the Mooiplaats and Woestalleen Collieries (both thermal coal).
The Mooiplaats Colliery commenced production in 2008 and is currently ramping up to produce 2 Mtpa. The Woestalleen Colliery, acquired through the acquisition of NuCoal Mining (Pty) Limited in January 2010, currently processes approximately 2.5Mtpa of saleable coal for domestic and export markets. The Woestalleen Complex also incorporates three beneficiation plants with a total processing capacity of 350,000 run-of-mine (ROM) feed tonnes per month.
CoAL's Vele Colliery commenced production in Q1 2012. During the initial phase, the operation is targeting 2.7 Mtpa ROM production to produce 1.0Mtpa of saleable coking coal. The Makhado Project, CoAL's flagship project in the Soutpansberg coalfield, is well into the feasibility stage, with a Definitive Feasibility Study having been reviewed by the CoAL Board in March 2012. An application for a New Order Mining Right for the Makhado Project was submitted in January 2011.
In May 2012, CoAL acquired the Chapudi coal project and several other coal exploration properties in the Soutpansberg coal basin in South Africa, subsequently renamed the Greater Soutspansberg Project, from the previous owners, including Rio Tinto. The Greater Soutpansberg Project is a consolidation of nine potential coking and thermal coal assets grouped into three proximate regions, namely Mopane, Makhado and Chapudi. The acquisition of these assets strengthens Coal of Africa's position as one of the most substantial holders of prospecting and mining rights for coking coal in South Africa's Soutpansberg coalfield.