On September 19, South Africa-based coal mining and production company Continental Coal Limited announced that it listed its ordinary shares on the London Stock Exchange's Alternative Investment Market (AIM) under the ticker code COOL.
Commenting on the commencement of trading on the AIM, Continental Coal's CEO Don Turvey said that with the company now trading on the AIM it is expected to benefit from the expanded international profile and engagement with additional European funds and institutional investors.
Continental Coal currently has two operating open cast coal mines, the Vlakvarkfontein and Ferreira Coal Mines, located in South Africa, which produce 2 million mt per year of thermal coal for the export and domestic markets. Continental commenced development of its third coal mine, the Penumbra Coal Mine, on September 7, 2011, and has a further nine thermal coal projects that it is progressing towards development. The company is targeting run-of-mine production of seven million metric tons per year from 2013.