Coal of Africa (CoAL), the AIM and JSE listed miner said on Monday that its Mooiplaats thermal coal project in South Africa was proceeding according to plan, with the washing plant to be commissioned in March 2009.
Production is expected to start by the end of the first quarter of this year, with the first coal to be sold in the following quarter.
"Despite the challenging global economic conditions, CoAL's cash position and the absence of debt ensures the company remains well placed to bring the Mooiplaats thermal coal project and the Vele and Makhado coking coal projects into production within the next two years," Managing Director Simon Farrell said in a statement.
CoAL has lodged an application with South Africa's Department of Minerals and Energy for a new mining right at the Vele coking project in the Limpopo province which the company expects to commence mining in the second half of 2009.
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