A CHANGE of guard at Coal of Africa (CoAL) intends to "create value" for shareholders, with the focus on making its Vele thermal and coking coal mine in Limpopo a cash-generating asset by the end of 2015, executive chairman David Brown said on the release of end-June results on Friday."For the coming financial year we are not going to look at clearing any mess, but the focus will be on looking to create value for shareholders," Mr Brown said.South Africa’s industrial and manufacturing sector relies on coking coal, used in the steel-making process, and the former CEO of Impala Platinum comes in at a time when the company is battling to realise its ambition of being a major supplier for domestic steel makers ArcelorMittal SA and Evraz Highveld Steel and Vanadium.For the financial year ended in June, the company produced 3.8-million run-of-mine (Rom) tonnes, down from the 49-million tonnes mined from the Vuna, Mooiplaats and Vele collieries.CoAL’s sales volumes dropped from 3.4-million...
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