9th Dec 2015 12:25
LONDON (Alliance News) - Coal of Africa PLC on Wednesday said the North Gauteng High Court in South Africa has handed down a mixed judgement on two matters relating to its long-running dispute stretching back to December 2014.
Back in late 2014, an interim court interdict was issued against the environmental authorisation granted to the company for its Makhado project, leading Coal of Africa to launch a counter-claim in March to get the interdict removed so that it could continue progressing the project.
Nine months later, the court has finally handed down a judgement on two matters. The first ruling was favourable for the company as the court said Coal of Africa does not have to conduct a strategic regional impact assessment for the project, but the court's second ruling means the environmental authorisation interdict remains in place while further reviews are carried out.
Coal of Africa said: "Based on the interim nature of the interdict, and various other factors, we do not believe that it will delay our timeline regarding the commencement of the construction in the second half of 2016."
The company said it will study the judgement and review its options.
Coal of Africa shares were down 5.5% to 2.55 pence per share on Wednesday.
By Joshua Warner; [email protected]; @JoshAlliance
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