Coal of Africa, the multi-listed South African coal company, has not concluded the R250 million sale of its Mooiplaats colliery in South Africa to Blackspear Capital.

The sale and purchase agreement (SPA), first announced in September last year, was not extended past 30 June 2015, and subsequently, it lapsed.

The company is continuing discussions with various parties regarding the sale of the Mooiplaats asset. Blackspear remains one of the parties that the company is engaged with, and it continues to work towards sourcing the required funding.

Situated in the Ermelo coal fields in Mpumalanga, the underground, single-seam Mooiplaats coal mine has been on care and maintenance since October 2013. It has 45.1 Mt of mineable tons in-situ.

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