South Africa-based coal producer Coal of Africa Limited (CoAL) has announced that it expects South Africa's Exxaro Coal Proprietary Limited (Exxaro) to make its formal decision about its 30 percent buy-in option in the Makhado coking coal project in Limpopo, South Africa by September 30 this year.
Until that date, both parties have agreed to continue negotiations and the assessment process to finalize the valuation of the Makhado project. "The development of high quality metallurgical coal assets is fully in line with Exxaro's strategic growth objectives," said Exxaro chief executive Sipho Nkosi.