Johannesburg, South Africa — MININGREVIEW.COM — 29 January 2009 – Emerging coal development and production company Coal of Africa Limited (CoAL) – listed on the AIM, the Australian Securities Exchange and the JSE – has negotiated a deal in which Transnet Freight Rail will transport one million tonnes per annum of its coal to the Matola terminal Mozambique.
CoAL managing director Simon Farrell is on record as saying that the company will reach an overall output of 30 Mtpa before the end of 2012. Overall capital expenditure CoAL would be investing to reach this stage would be close to US$800 million (more than R7 billion).
“The deal we have with Grinrod is that we have the rights to 100% of any expansion to Matola. Currently there are plans to expand the terminal from 4 to 6Mt, which will take us from 1 Mt out of 4Mt to 3Mt out of 6Mt,” Farrell added. ”We will provide funding for the proposed expansion at the Matola terminal to a capacity of 2 million tonnes per annum (Mtpa),” he added.