| Tue 1 Mar 2011, 9:37 | | CZA - Coal of Africa Limited - Makhado Project new order mining right |
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CZA
CZA
CZA - Coal of Africa Limited - Makhado Project new order mining right
application accepted
Coal of Africa Limited
(previously, "GVM Metals Limited")
(Incorporated and registered in Australia)
(Registration number ABN 008 905 388)
JSE Share code: CZA
ASX Share code: CZA
ISIN AU000000CZA6
("CoAL" or the "Company")
MAKHADO PROJECT NEW ORDER MINING RIGHT APPLICATION ACCEPTED
Coal of Africa Limited is pleased to advise that it has received the
acceptance letter from the Department of Mineral Resources ("DMR") for the New
Order Mining Right Application for the Makhado Coking Coal Project lodged on
24 January 2011.
The acceptance letter triggers the commencement of the rigorous process that
is required prior to the final granting of the NOMR. The Company is
progressing with extensive economic, social and environmental impact studies
as part of an intensive process of formulating the detailed Environmental
Management Programme.
The detailed design phase of the Makhado Project will commence once the
Definitive Feasibility Study has been finalised and approved by the CoAL board
of directors. The Company anticipates that this will occur by the end of the
June quarter.
JOHN WALLINGTON
Chief Executive Officer
Bryanston
1 March 2011
JSE Sponsor
Macquarie First South Advisers (Pty) Ltd
For more information contact
Simon Farrell Executive Deputy Coal of Africa +61 417 985 383
Chairman
John Wallington Chief Executive Coal of Africa +27 11 575 7423
Officer
Blair Sergeant Finance Director Coal of Africa +27 11 575 6797
Ryan Rockwood Associate Azure Capital +61 447 760 058
Director
Simon Nominated Evolution +44 20 7071 4300
Edwards/Chris Adviser Securities
Sim
Melanie de JSE Sponsor Macquarie First +27 11 583 2000
Nysschen/Annerie South Advisers
Britz/Yvette
Labuschagne
Jos Simson/Emily Financial PR Tavistock +44 207 920 3150
Fenton
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 2013 and timing for Vele to reach
production is still to be confirmed. These operations are targeted to
collectively produce an initial 2Mtpa ramping up to a combined annual
output of 10Mtpa 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
Resource Estimation:
The information in this report that relates to exploration results, mineral
resources or ore reserves in respect of the Makhado coking coal project
is based on information compiled by Mark Craig Stewardson, who is
registered as a Professional Natural Scientist (Pr Sci Nat, Reg. No.
400119/93) with the South African Council for Natural Scientific
Professions ("SACNASP"), which is a Recognised Overseas Professional
Organisation ("ROPO") in terms of the JORC Code. Mark Craig Stewardson
is employed by Mineral Corporation Consultancy and has sufficient
experience that is relevant to the style of mineralisation and type of
deposit under consideration and to the activity which he is undertaking
to qualify as a Competent Person as defined in the JORC Code. Mark
Craig Stewardson consents to the inclusion in this announcement of the
matters based on his information in the form and context in which it
appears.
Date: 01/03/2011 09:37:00 Produced by the JSE SENS Department.
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