MINING
CoAL makes progress despite delays at Makhado
Coal of Africa CEO David Brown says the producer is making good progress towards re-entering its primary market
Coal of Africa (CoAL) has outlined what it calls a quarter of "overdue good news" after it sold an asset, raised capital, reduced cash outflows and acquired a mine that will give it the first production in years. "The company is making good progress towards re-entering the market as a coal producer, while focusing on the timeous funding and finalisation of the regulatory and surface right requirements for the Makhado project," CEO David Brown said on Friday. He gave a long list of the positive developments at CoAL, which has struggled to bring its Vele coking coal mine in Limpopo into production and to start construction of Makhado in the face of opposition.
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