OPT - Optimum Coal Holdings Limited - Transnet declares a force majeure event in
OPT
OPT
OPT - Optimum Coal Holdings Limited - Transnet declares a force majeure event in
respect of its agreement with Optimum Coal due to industrial action
OPTIMUM COAL HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2006/007799/06)
Share code: OPT
ISIN: ZAE000144663
Issuer code: OPT
("Optimum Coal" or the "Company")
TRANSNET DECLARES A FORCE MAJEURE EVENT IN RESPECT OF ITS AGREEMENT WITH OPTIMUM
COAL DUE TO INDUSTRIAL ACTION
Optimum Coal, a leading South African coal mining and exploration group, listed
on the JSE Limited, wishes to inform shareholders and update the market of the
fact that it has been notified by Transnet Limited that it has declared a Force
Majeure event in terms of its agreement with Optimum Coal as a result of
industrial action. TFR has assured Optimum Coal that it has taken all reasonable
measures to resolve current disputes in order to minimise the effect of the
industrial action.
Chief Executive Officer Mike Teke said; "Despite the Transnet strike, both
Optimum Collieries and Koornfontein Mines continue to produce coal for Eskom and
for the export market. To date, we have not been affected by Transnet`s strike
since the period from 10 to 19 May 2010 was originally scheduled by Transnet for
maintenance on the coal line. We will continue to stockpile export product and
monitor developments."
Johannesburg
19 May 2010
For further enquiries please contact:
Optimum Coal Tel: +27 (0)11 325 0403
IRO, Kobus Breytenbach Tel: +27 (0)82 376 3112
College Hill
Jacques de Bie Tel: +27 (0)11 447 3030
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 19/05/2010 16:48:01 Produced by the JSE SENS Department.
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