CoAL’s CEO unveils strategy to become leading coal producer
COAL of Africa’s (CoAL’s) new strategy was outlined by chairman and interim CEO David Brown in its annual report released on Friday.As a combined mine operator, developer and explorer, its financial and human resources were stretched, he said. It would instead focus on developing Vele and a second mine, Makhado. The company planned to cut overheads by at least $3m in this financial year."We now have a strategy for a sustainable future in which Coal of Africa will be a viable coal producer generating value for all its stakeholders," he said."Our future lies largely in developing and working the considerable resources we have on the Soutpansberg coalfield that will deliver metallurgical and thermal coal to international and domestic customers."As these developments get under way, we shall ensure that they are funded using appropriate blends of debt and equity finance from new and existing partners."The next step in developing Makhado would be to raise funding, including introducing bl...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.