Coal of Africa receives remaining payment from Chinese coal producer

South Africa-based coal company Coal of Africa Limited (CoAL) has announced that it has received $80 million in payment from China-based coal producer Haohua Energy International (HEI), a wholly-owned subsidiary of Beijing Haohua Energy Resource (BHE), as part of a share subscription agreement, following the requisite regulatory approvals from the Australian Foreign Investment Review Board and the authorities in China.
 
In November 2012, CoAL received the initial payment of $20 million that formed part of the $100 million investment by HEI in CoAL.