| Thu 24 Nov 2011, 11:00 | | CZA - Coal of Africa Limited - Coal of Africa and Coalition sign MOU and |
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CZA
CZA
CZA - Coal of Africa Limited - Coal of Africa and Coalition sign MOU and
commit to work together
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 or the "Company")
COAL OF AFRICA AND COALITION SIGN MOU AND COMMIT TO WORK TOGETHER
Coal of Africa Limited advises that the Company and the Save Mapungubwe
Coalition (the Coalition), consisting of the Endangered Wildlife Trust,
BirdLife South Africa, Wilderness Foundation South Africa, World Wide Fund
for Nature South Africa, Mapungubwe Action Group and the Association of
Southern African Professional Archaeologists (CoAL and the Coalition,
together the Parties) have signed an historic Memorandum of Understanding
(MOU), today, Thursday, 24 November 2011.
In terms of the MOU, the Parties commit to work together and strengthen
cooperation in the interest of sustainable development and the preservation
and protection of the Mapungubwe cultural landscape.
CoAL has undertaken to share all information relevant to the impacts of the
Vele Colliery on the environment, including water and heritage resources. The
negotiations will address, amongst others, further research, monitoring and
modeling of the potential impacts of mining at the Vele Colliery and
requisite amendments and improvements to Limpopo Coal`s approved
environmental management plan (EMP) and water use license as may be agreed by
the Parties.
The Coalition has agreed to stay the legal proceedings and the administrative
appeals against the New Order Mining Right, the EMP, the Integrated Water Use
Licence and the section 24G authorisation subject to the signature of a
Memorandum of Agreement (MOA) between the Parties by 31 January 2012.
Pursuant to the conclusion of the MOA, the legal proceedings and
administrative appeals against Vele Colliery will be withdrawn.
The Parties will endeavour to facilitate participation by the Coalition
regarding the terms of the biodiversity off-set agreement to be concluded
between CoAL, the Department of Environmental Affairs and the South African
National Parks.
Coal of Africa CEO John Wallington welcomes the opportunity to engage with
the Coalition, and reinforced the Company`s commitment to do the right thing
and to engage openly and regularly with stakeholders.
In the next step of the process, The Parties will now seek to conclude the
MOA which will contain further detail concerning their commitments in
managing the sustainable development of the Mapungubwe cultural landscape.
The Parties have agreed to progress their discussions in good faith, with the
aim of setting a new best practise benchmark for managing and mitigating the
impacts of mining and related activities at the Vele Colliery on the
environment.
24 November 2011
Johannesburg
JSE Sponsor
Macquarie First South Capital (Pty) Ltd
For more information contact:
Shannon Coates
Company Secretary
Coal of Africa
+61 893 226 776
Sakhile Ndlovu
Investor Relations Manager
Coal of Africa
+27 11 575 4363
Chris Sim/ Romil Patel
Nominated Adviser
Evolution Securities
+44 20 7071 4300
Jos Simson/Emily Fenton
Financial PR
Tavistock
+44 207 920 3150
Melanie de Nysschen/ Annerie Britz/ Yvette Labuschagne
JSE Sponsor
Macquarie
+27 11 583 2000
Charmane Russell/James Duncan
Financial PR (South Africa)
Russell & Associates
+27 11 880 392
+27 82 372 5816
Date: 24/11/2011 11:00:24 Produced by the JSE SENS Department.
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