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CZA
CZA
CZA - CoAL - Response to Press Statement
Coal of Africa Limited
(previously "GVM Metals Limited")
(Incorporated and registered in Australia)
(Registration number ABN 008 905 388)
ISIN AU000000CZA6
JSE/ASX/AIM share code: CZA
(`CoAL`)
RESPONSE TO PRESS STATEMENT
Coal notes the recent article published by Bloomberg on 14 October 2010
regarding the Company`s Vele Colliery in the Limpopo Province of South Africa.
The Company would like to clarify that no decision has been made as yet by the
Department of Environmental Affairs ("DEA") or the Department of Water Affairs
in relation to the recommencement of development and the granting of the
Integrated Water Use License application for the Vele Colliery.
CoAL is in active dialogue with the DEA and remains hopeful development can re-
commence in Q4 2010. The Company will continue to keep the market informed of
relevant progress.
Authorised by:
JOHN WALLINGTON
Chief Executive Officer
Johannesburg
21 October 2010
JSE Sponsor
Macquarie First South Advisers (Pty) Ltd
For more information contact:
John Wallington / Blair Sergeant
CoAL
+27 (0) 11 575 4363
Simon Edwards / Chris Sim
Evolution Securities
+44 (0) 20 7071 4300
Jos Simson / Leesa Peters
Conduit PR
+44 (0) 20 7429 6603
Melanie de Nysschen/Annerie Britz/Yvette Labuschangne
Macquarie First South Advisers
+27 (0) 11 583 2000
www.coalofafrica.com
About CoAL
CoAL is an AIM/ASX/JSE listed coal mining and development company operating in
South Africa. CoAL`s key projects include the Woestalleen Colliery, the
Mooiplaats thermal coal mine, the Vele coking coal project and the Makhado
coking coal project.
The Mooiplaats coal mine commenced production in 2008 and is currently ramping
up to produce 2 million tonnes per annum ("Mtpa"). CoAL`s Makhado coking coal
project is expected to start production in 2012 and timing for Vele to reach
production is expected tp commence Q4 2010. These operations are targeted to
collectively produce an initial 2 Mtpa ramping up to a combined annual output of
10 Mtpa of coking coal.
In 2010, CoAL completed the ZAR467m acquisition of NuCoal Mining (Pty) Limited
("NuCoal"), a thermal coal producer with assets in South Africa in close
proximity to CoAL`s Mooiplaats mine. NuCoal owns the Woestalleen Colliery, which
has a number of off-take contracts in place and processes approximately 2.5Mtpa
of saleable coal for domestic and export markets. NuCoal also owns two
beneficiation plants, one fully operational mine producing approximately 300kt
per month of ROM coal and has recently commenced production at a second mine.
CoAL currently has 1 Mtpa export capacity at the Matola Terminal in Maputo,
Mozambique, increasing to 3 Mtpa on completion of the next phase of expansion at
the terminal. CoAL also has the option to participate in further expansion at
the Matola Terminal, which is expected to increase the capacity at the terminal
by an additional 10 Mtpa.
Date: 21/10/2010 07:23:00 Produced by the JSE SENS Department.
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