CoAL extends empowerment deal to Sept
August 3, 2009 by admin · Leave a Comment
Coal development company Coal of Africa Limited (CoAL) has again extended its black economic-empowerment (BEE) agreement, this time to September, it announced on Monday.
The company said that Coal Investments Limited (CIL), African Global Capital (AGC) and their affiliates had until the end of September to transfer their holdings into a BEE group.
CoAL buys remaining 26% stake in Limpopo coking coal project
July 14, 2009 by admin · Leave a Comment
ASX-, JSE- and Aim-listed coal producer Coal of Africa Limited (CoAL) has agreed to buy the remaining 26% stake in the Vele coking coal project, in South Africa’s Limpopo province, the company announced on Tuesday.
CoAL already holds a 74% stake in the Limpopo Coal Company, which owns the project, and has now executed sale of shares and claims agreements with Tranter Holdings to secure a 20% interest, and with Shangoni Bezwe Management Services to secure the remaining 6%.
CoAL commissions coal handling plant at Mooiplaats
June 8, 2009 by admin · Leave a Comment
Aim-, ASX- and JSE- listed Coal of Africa Limited (CoAL) has successfully commissioned the coal handling and preparation plant (CHPP) at its Mooiplaats colliery, in South Africa’s Mpumalanga province.
This first module of the CHPP has the capacity to process 110 000 t/m of run-of-mine coal. When processing bituminous coal, it would produce an export quality thermal coal, as well as a lower grade-middling product suitable for the domestic power station market.
South Africa problems slow India coal buying
May 8, 2009 by admin · Leave a Comment
Indian imports of South African coal are likely to be close to 12 million tonnes in 2009, up from 10 million last year.
CoAL issues shares to UK investment banker Blue Oar
May 6, 2009 by admin · Leave a Comment
Aim-, ASX- and JSE-listed Coal of Africa Limited (CoAL) on Wednesday confirmed that it had issued 196 668 ordinary shares to UK investment banker Blue Oar, pursuant to its exercise of Class C options at an exercise price of 34p a share.
The company would now apply for the 196 688 shares to be admitted to trading on the Aim.
Western Canadian sells enough coal to keep mines running
April 28, 2009 by admin · Leave a Comment
Vancouver-based Western Canadian Coal Corp (WCC) has secured sufficient sales contracts, at strong enough prices, for the 12 months ended March 2010, to continue mining at its Wolverine and Brule operations, in British Columbia.
WCC shares leapt 20,5% on Tuesday morning, to C$0,94 apiece by 10:43 in Toronto.
Interior Secretary: Wind Could Replace Coal
April 11, 2009 by admin · Leave a Comment
Wind turbines churning off the East Coast have the potential to replace nearly all of the coal-fired power plants. That bold pronouncement comes from U.S. Secretary of the Interior Ken Salazar during a recent public hearing in Atlantic City, New Jersey.
EnvironmentalLeader.com has details:
Salazar said at the public hearing that wind resources along the East Coast can generate 1 million megawatts (MW) of power, although he could not estimate how many windmills might be needed to generate this amount of power, according to the AP report. This is equivalent to 3,000 medium-sized coal-fired power plants, or nearly five times the number of coal plants now operating in the United States, according to the Energy Department.
Salazar is hosting four regional public meetings in April to discuss the future of offshore energy development. He also said in Atlantic City that offshore energy production might not be limited to wind power.
Salazar also told participants at a recent summit meeting of 25X’25 America’s Energy Future that U.S. offshore areas hold enormous potential for wind energy development in all coastal metropolitan centers, and the wind potential off the coasts of the lower 48 states could exceed electricity demand in the U.S.
According to the National Renewable Energy Lab (NREL), there’s already more than 1,000 gigawatts (GW) of potential wind power off the East Coast with a total of more than 2,000 megawatts of offshore wind projects currently proposed in this country.
Should anyone hate coal anymore?
March 27, 2009 by admin · Leave a Comment
W2 said that its proprietary Clean Coal Power Plant (CCPP) system can convert any type of coal into electricity liquid fuel or combination of both with zero carbon dioxide emissions. It is especially compatible with low BTU lignite coal.
ARM’s coal unit eyes new mine within 5 years
March 12, 2009 by admin · Leave a Comment
South African diversified miner African Rainbow Minerals (ARM) expects to launch another mine in South Africa within five years to possibly supply state-owned utility Eskom and for export.
ARM’s coal unit CEO Mangisi Gule told Reuters in an interview his firm expects to produce a bankable feasibility study for seven potential coal mines by the end of April.
Black Rock ups investment in Coal of Africa after confusing reports
March 11, 2009 by admin · Leave a Comment
The prestigious global investor Black Rock has increased its shareholding in JSE-, ASX- and Aim-listed coal company Coal of Africa Limited (CoAL) and not sold down its holding, as some reports had indicated.
CoAL financial director Blair Sergeant told Mining Weekly Online that recent substantial shareholder notices had caused confusion.
The first was Bank of America saying a week ago, without any details, that, whatever relationship it had with Black Rock had been severed.
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