South Africa-based coal miner Coal of
Africa Limited (CoAL) has announced that it has received the necessary approvals from the South African authorities regarding the acquisition of the Chapudi coal assets in Limpopo Province,
South Africa from Australia's
Rio Tinto and Johannesburg-based Kwezi
Mining.
The company stated that, by completing the $75 million acquisition, it will strengthen its "position as one of the most substantial holders of prospecting and
mining rights for
coking coal in the region."
Coal of
Africa's Vele colliery, also located in Limpopo Province, commenced coal extraction in December 2011.