Johannesburg, South Africa — MININGREVIEW.COM — 13 July 2009 – Emerging coal development and production company Coal of Africa Limited (CoAL) – listed on the AIM, the Australian Securities Exchange and the JSE – says it is due to extract the first export-quality coal from its Mooiplaats project in South Africa by the first quarter of next year at the latest.
The company had said in the past that it expected its first saleable production from the mine early in the second half of 2009. “Export quality thermal coal is now expected to be reached in November 2009 at the earliest, or the first quarter of 2010 at the latest,” CoAL said in a statement here.
It added that it expected Mooiplaats to reach an annual run of mine production of 1.7 million tonnes by 2010, ramping up to 3.2 million tonnes by 2014.
The company announcement went on to reveal that it expected to receive a mining licence for its Vele coking coal project by the end of the third quarter of this year.
“CoAL is ready to launch Phase 1 immediately upon the granting of a new order mining right, currently under review by the South African Department of Minerals and Energy,” the company said. It added that the capital expenditure required to complete the first phase of the project was estimated at R350 million.