| Thu 1 Sep 2011, 12:00 | | CZA - Coal of Africa Limited - Memorandum of agreement signed between CoAL |
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CZA
CZA
CZA - Coal of Africa Limited - Memorandum of agreement signed between CoAL,
Sanparks and the Department of Environment
Coal of Africa Limited
(Incorporated and registered in Australia)
(Registration number ABN 008 905 388)
JSE Share code: CZA
ASX Share code: CZA
AIM Share code: CZA
ISIN AU000000CZA6
("CoAL" or the "Company")
Memorandum of Agreement signed between CoAL, Sanparks and the Department of
Environment
Coal of Africa Limited is pleased to advise that on 1 September 2011 the
Company, the South African Department of Environmental Affairs ("DEA") and the
South African National Parks ("SanParks") unveiled an historical Memorandum
of Agreement ("MOA") in respect to the Mapungubwe Cultural Landscape World
Heritage Site ("Heritage Site").The MOA is pursuant to conditions set out
as part of the Vele Colliery Environmental Authorisation ("EA").
The MOA seeks to ensure the conservation and integrity of the
globally significant natural and cultural Heritage Site and to
maintain and strengthen co-operation between CoAL, SanParks and the DEA.
In the MOA, the parties commit themselves to ten joint undertakings, key
amongst which are:
- developing means by which local communities and other stakeholders can
participate in and tangibly benefit from the management and sustainable use
of the Heritage Site`s natural and cultural resources;
- developing detailed biodiversity offset programs and action plans;
- monitoring the implementation of these through a steering or environmental
management committee;
- providing adequate financial, human and other resources for their effective
implementation.
Speaking at the signing event in Pretoria, Coal of Africa Chief Executive
Officer John Wallington said: "This agreement is a declaration of intent with
the goal of creating and developing a sustainable model of co-existence which
should set new and more inclusive standards to be aspired to. With the help
of the DEA and SanParks, we are seeking to be pioneers in finding the right
balance between conservation and economic development. We have a responsibility
to protect the natural and cultural richness of the Heritage Site, whilst
substantially increasing the size of the economy and thereby creating jobs
that our country desperately requires".
Authorised by
JOHN WALLINGTON
Chief Executive Officer
Bryanston
1 September 2011
JSE Sponsor
Macquarie First South Capital (Pty) Ltd
For more information contact
John Wallington Chief Executive Coal of Africa +27 11 575 7423
Officer
Wayne Koonin Finance Director Coal Of Africa +27 11 575 4363
Shannon Coates Company Coal of Africa +61893 226 776
Secretary
Romil Patel/ Nominated Evolution +44 20 7071 4300
Chris Sim Adviser Securities
Melanie de JSE Sponsor Macquarie First +27 11 583 2000
Nysschen/Annerie South Capital
Britz/Yvette
Labuschagne
Jos Simson/Emily Financial PR Tavistock +44 207 920 3150
Fenton
Charmane Financial PR Russell & +27 11 880 3924
Russell/James S.Africa Associates +27 82 372 5816
Duncan
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 Vele Colliery (coking coal),
the Makhado Project (coking coal) and the Mooiplaats and Woestalleen Collieries
(both thermal coal).
The Mooiplaats Colliery commenced production in 2008 and is currently ramping
up to produce 2 million tonnes per annum ("Mtpa"). CoAL`s Vele Colliery and
Makhado Project are expected to start production in the first half of 2012 and
the first half of 2013 respectively. These operations are targeted to
collectively produce an initial 1Mtpa 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 Colliery. 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. The Woestalleen
Colliery also incorporates two beneficiation plants with a total processing
capacity of 350,000 run of mine feed tonnes per month.
In November 2010, CoAL agreed to acquire the Chapudi coal project and several
other coal exploration properties in the Soutpansberg coal basin in South Africa
from the previous owners, including Rio Tinto. When completed, the acquisition
of these projects will significantly extend the scale and scope of certain of
CoAL`s existing projects in the region and will more than double the resource
of the existing Makhado Project.
Date: 01/09/2011 12:00:02 Produced by the JSE SENS Department.
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