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19 Nov 2015 07:00
ANNOUNCEMENT 19 NOVEMBER 2015
Minister dismisses appeal against environmental authorisation at Vele
Coal of Africa Limited ("CoAL" or the" Company") is pleased to advise that the South African Minister of the Department of Environmental Affairs ("DEA"), Ms Edna Molewa, has dismissed the Appeal against the Environmental Authorisation ("EA") Amendment for the Vele Colliery in the Limpopo Province.
The EA Amendment was granted in January 2015 in terms of the National Environmental Management Act (NEMA) (Act 107 of 1998) and appeals were lodged in April 2015.
In evaluating the grounds of appeal, the Minister considered the fact that the EA Amendment would not pose any additional impacts to those considered in the original Environmental Authorisation issued in terms of Section 24G of NEMA in 2011.
David Brown, CEO of Coal of Africa said:
"We welcome this decision by the Minister and remain firmly committed to the co-existence model implemented at Vele Colliery, which seeks co-operation between mining, agriculture and heritage land uses. The Minister's decision represents another step towards getting the Vele Mine back into production".
CoAL will continue to progress the Renewal and Amendment Applications in respect of Vele's Integrated Water Use Licence ("IWUL") Application under the South African National Water Act ("the Act"). The Colliery was placed under care and maintenance in preparation for the approval and construction of the Plant Modification Project as well as an assessment of forecast global coal prices. The Company previously submitted applications to amend and renew Vele's IWUL and expects these to be granted during H2 CY2015. Subsequently the company also decided to obtain approval relating to a non-perennial stream diversion. This decision is only anticipated in H2 CY2016. The Company will await all regulatory approvals before the final decision to proceed will be placed before the board
AUTHORISED BY:
David Brown
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 and Broker | Peel Hunt LLP
| +44 20 7418 8900 |
Charmane Russell/Olwen Auret | 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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