No revenues but CoAL upbeat of turnaround

Mozambique ripe for SA investments


JOHANNESBURG, (CAJ News) – COAL of Africa generated no revenue for the full year ended June 30 owing to care and maintenance during the period but officials believe they are on course to transform the company into a project development company.

Chief Executive Officer, David Brown, said most legacy issues had now been resolved and progress had been made on a number of regulatory matters at both Makhado and Vele.

“We have started the process to acquire a cash generating asset in order to provide the company with a sustainable future. Despite not consummating the Universal Coal transaction we are actively pursuing other acquisition opportunities,” Brown said on Friday.

CoAL the multiple listed company, is 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).

– CAJ News

Short URL:

Posted by on Sep 30 2016. Filed under Africa & World, Featured, Finance, Mining, Mining & Engineering, National, Regional. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

CAJ News Sponsored Links

Commonwealth Technology Organisation

Connect to CAJ News on Facebook

Subscribe to our Newsletter

Photo Gallery

Log in
All material © CAJ News Africa. Material may not be published or reproduced in any form without prior written permission.