Last checked at 24 Oct 2011 09:00
-ANNOUNCEMENT 24 October 2011
POSTING OF ANNUAL REPORT 2011
Coal of Africa Limited, ("CoAL", or "the Company"), the coal exploration, development and mining company operating in South Africa and traded on the ASX, AIM and JSE (ticker: CZA), announces that the Annual Report, Accounts for the financial year ended 30 June 2011 and Notice of the Annual General Meeting to be held on 23 November 2011 have today been posted to shareholders. These documents are available on the Company's website www.coalofafrica.com.
For more information contact:
Shannon Coates Company Secretary Coal of Africa +61 893 226 776
Sakhile Ndlovu Investor Relations Manager Coal of Africa +27 11 575 4363
Chris Sim/Romil Patel Nominated Adviser Evolution Securities +44 20 7071 4300
Jos Simson/Emily Fenton Financial PR (United Kingdom) Tavistock +44 207 920 3150
Melanie de Nysschen/ Annerie Britz/ JSE Sponsor Macquarie +27 11 583 2000
Yvette Labuschagne
Charmane Russell/James Duncan 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 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 feed tonnes per month.
CoAL's Vele Colliery is expected to start production in Q1 2012. During the initial phase, the operation is targeting 2.7 Mtpa ROM production to produce 1.0Mtpa 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 nearing completion. An application for a New Order Mining Right for the Makhado Project was submitted in January 2011.
In November 2010, CoAL agreed to acquire the Chapudi coal project and several other coal exploration properties in the Soutpansberg coal basin in South Africa from the previous owners, including Rio Tinto. Upon completion, the acquisition of these projects will significantly extend the scale and scope of certain of CoAL's existing projects in the region and will more than double the resource of the existing Makhado Project.