Johannesburg, South Africa — MININGREVIEW.COM — 29 July 2010 – Emerging coal development and production company Coal of Africa Limited (CoAL) – listed on the AIM, the Australian Securities Exchange and the JSE – says development of its Vele project has progressed according to schedule, and first sales of coking coal are expected during the next quarter.
Releasing the company’s operational report for the quarter ended June 2010, executive deputy chairman Simon Farrell said production was expected to commence during the next quarter, followed soon thereafter by first sales of coal, pending the granting of an integrated water use licence. CoAL was still awaiting approval of its application, which had been submitted to the Department of Water Affairs in November 2009. It remained confident that the licence should be received in the near term.
“Despite railing problems during the quarter due to strike action at Transnet Freight Rail, the company serviced its coal sales contracts from stockpiles on site and at the port of Matola in Maputo, Mozambique,” Farrell added.