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CZA - Coal of Africa Limited - Update on the acquisition of Rio Tinto`s South African Coal Assets Coal of Africa Limited (Incorporated and registered in Australia) (Registration number ABN 008 905 388) JSE Share code: CZA ASX Share code: CZA AIM Share code: CZA ISIN AU000000CZA6 ("CoAL" or the "Company") UPDATE ON THE ACQUISITION OF RIO TINTO`S SOUTH AFRICAN COAL ASSETS CoAL advises that the date for fulfillment of the conditions precedent in terms of the Sale and Purchase Agreement ("SPA") for the acquisition of the Chapudi Coal Project and Related Exploration Properties (collectively, the "Coal Assets") in South Africa`s Limpopo province, from joint venture companies held by Rio Tinto Minerals Development Limited and Kwezi Mining (Proprietary) Limited (collectively, the "Vendors"), entered into on 26 November 2010, has been extended from 1 August 2011 until 12 August 2011, to allow for certain shareholder approvals to be obtained, after which CoAL hopes to finalise the transaction. Authorised by JOHN WALLINGTON Chief Executive Officer Bryanston 02 August 2011 JSE Sponsor Macquarie First South Advisers (Pty) Ltd For more information contact John Wallington Chief Executive Coal of Africa +27 11 575 7423 Officer Wayne Koonin Financial Coal Of Africa +27 11 575 6797 Director
Jeremy Ellis/ Nominated Evolution +44 20 7071 4300 Romil Patel/ Adviser Securities Chris Sim Melanie de JSE Sponsor Macquarie First +27 11 583 2000 Nysschen/Annerie South Advisers Britz/Yvette Labuschagne Jos Simson/Emily Financial PR Tavistock +44 207 920 3150 Fenton www.coalofafrica.com About CoAL: CoAL is an AIM/ASX/JSE listed coal mining and development company operating in South Africa. CoAL`s key projects include the Vele Colliery (coking coal), the Makhado Project (coking coal) and the Mooiplaats and Woestalleen Collieries (both thermal coal). The Mooiplaats Colliery commenced production in 2008 and is currently ramping up to produce 2 million tonnes per annum ("Mtpa"). CoAL`s Vele Colliery and Makhado Project are expected to start production in the first half of 2012 and the first half of 2013 respectively. These operations are targeted to collectively produce an initial 1Mtpa ramping up to a combined annual output of 10Mtpa of coking coal. In 2010, CoAL completed the ZAR467m acquisition of NuCoal Mining (Pty) Limited ("NuCoal"), a thermal coal producer with assets in South Africa in close proximity to CoAL`s Mooiplaats Colliery. NuCoal owns the Woestalleen Colliery, which has a number of off-take contracts in place and processes approximately 2.5Mtpa of saleable coal for domestic and export markets. The Woestalleen Colliery also incorporates two beneficiation plants with a total processing capacity of 350,000 run of mine feed tonnes per month. In November 2010, CoAL agreed to acquire the Chapudi coal project and several other coal exploration properties in the Soutpansberg coal basin in South Africa from the previous owners, including Rio Tinto. When completed, the acquisition of these projects will significantly extend the scale and scope of certain of CoAL`s existing projects in the region and will more than double the resource of the existing Makhado Project. Date: 02/08/2011 07:28:06 Supplied by www.sharenet.co.za Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.
