OPT - Optimum - Declares a Force Majeure Event in respect of its coal
OPT
OPT
OPT - Optimum - Declares a Force Majeure Event in respect of its coal
marketing agreements with BHP Billiton Energy Coal and Mercuria Energy
Group due to Transnet Freight Rail 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")
OPTIMUM DECLARES A FORCE MAJEURE EVENT IN RESPECT OF ITS COAL MARKETING
AGREEMENTS WITH BHP BILLITON ENERGY COAL AND MERCURIA ENERGY GROUP DUE TO
TRANSNET FREIGHT RAIL 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 that it has declared a Force Majeure event in terms of its coal
marketing agreements with BHP Billiton Energy Coal South Africa ("BECSA")
and Mercuria Energy Group ("Mercuria") as a result of continued Transnet
Freight Rail ("TFR") industrial action.
Chief Executive Officer Mike Teke said; "We shall continue to monitor
developments and as soon as normal transport services are restored by TFR,
we shall again be in a position to perform our contractual obligations to
BECSA and Mercuria, whereupon we shall withdraw the force majeure notice
given in terms hereof."
Johannesburg
24 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: 24/05/2010 17:12:01 Produced by the JSE SENS Department.
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