Coal of Africa updates on Mooiplats startup
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On Friday, South African miner Coal of Africa Ltd (CZA.L)(CZA.AX) reported that the company is on track to commence production of export quality coal at its Mooiplats project in the first quarter of 2010.
The press release is quoted as saying:
Coal of Africa, which produced 26,000 tonnes of lean coal at Mooiplats in the quarter to December, said it was set to launch phase 1 of its Vele project upon receiving approval from the mines ministry, which is expected early this year. The company said total capital expenditure to complete phase 1 of the Vele project was estimated at 350 million rand ($46.29 million), with 200 million rand required to double phase 1 capacity and a further 2.65 billion rand needed to complete phase 2 of the project.
Click here to access the entire press release
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