14th Jan 2016 07:00
ANNOUNCEMENT 14 JANUARY 2016
INTEGRATED WATER USE LICENCE GRANTED FOR THE mAKHADO PROJECT
Coal of Africa Limited ("CoAL" or the" Company") is pleased to advise that the Integrated Water Use Licence ("IWUL") for its Makhado Project has been granted by the Department of Water and Sanitation ("DWS") for a period of 20 years.
CoAL completed a Class II Definitive Feasibility Study on the Makhado Project during 2013 and anticipates developing the colliery to produce 2.3 million tonnes per annum (Mtpa) of hard coking coal and a further 3.2 Mtpa of thermal coal over the life of mine. Tests confirmed that the coal can be successfully beneficiated to produce high strength coke for the steel manufacturing industry.
David Brown commented, "The granting of the IWUL for the Makhado Project is a significant milestone for CoAL, and is a further step towards bringing the Makhado Project into production. It further signifies government's commitment to and support of our flagship project, and its potential to foster socio economic transformation not only for the communities in our area of operation, but also for the Limpopo Province.
"We continue to focus on our funding requirements in order to commence construction activities in H2 2016."
AUTHORISED BY:
David Brown
For more information contact:
David Brown | Chief Executive Officer | Coal of Africa | +27 10 003 8000 |
De Wet Schutte | Chief Financial Officer | Coal of Africa | +27 10 003 8000 |
Celeste Riekert | Investor Relations | Coal of Africa | +27 10 003 8000 |
Tony Bevan | Company Secretary | Endeavour Corporate Services | +61 08 9316 9100 |
Company advisors:
Jos Simson/Emily Fenton | Financial PR (United Kingdom) | Tavistock | +44 20 7920 3150 |
Matthew Armitt/Ross Allister | Nominated Adviser and Broker | Peel Hunt LLP
| +44 20 7418 8900 |
Charmane Russell/Olwen Auret | Financial PR (South Africa) | Russell & Associates | +27 11 880 3924 or +27 82 372 5816 |
Investec Bank Limited is the nominated JSE Sponsor
About CoAL:
CoAL is an AIM/ASX/JSE listed coal exploration, development and mining company operating in South Africa. CoAL's key projects include the Vele Colliery (coking and thermal coal), the Greater Soutpansberg Project /MbeuYashu, including CoAL's Makhado Project (coking and thermal coal).
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