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Rio Tinto Chapudi Agreements
Coal of Africa Limited
(Incorporated and registered in Australia)
Registration number ABN 008 905 388
ISIN AU000000CZA6
JSE/ASX/AIM share code: CZA
("CoAL or the "Company" or the "Group")
ANNOUNCEMENT
8 March 2016
Rio Tinto Chapudi Agreements
Shareholders are hereby advised that Coal of Africa Limited (“CoAL”) and its subsidiary
company, MbeuYashu Proprietary Limited (“MbeuYashu”) received a notice from Rio
Tinto Minerals Development Limited (“Rio Tinto”) and Kwezi Mining Proprietary Limited
(“Kwezi”) alleging that CoAL is in breach of an obligation under the agreements pursuant
to which MbeuYashu acquired interests in Chapudi Coal Pty Ltd and Kwezi Mining
Exploration Pty Ltd, and therefore all amounts owed by CoAL and MbeuYashu are now
due for payment. These interests relate to assets within the Greater Soutpansberg
Project.
On legal advice, CoAL will dispute the validity of the notice. If Rio Tinto and Kwezi
pursue the matter, CoAL and MbeuYashu will defend it vigorously.
The original amount owed by CoAL and MbeuYashu to Rio Tinto and Kwezi was USD75
million of which USD56 million has already been paid (which equals 75% of the original
acquisition price) and an amount of USD19m is still owing. Payments to Rio Tinto and
Kwezi are due finally by 15 June 2017. CoAL and MbeuYashu have met, and will
continue to meet all of their payment obligations to Rio Tinto and Kwezi.
Authorised by
David Brown
Chief Executive Officer
For more information contact:
David Brown Chief Executive Officer Coal of Africa +27 10 003 8000
De Wet Schutte Chief Financial Officer Coal of Africa +27 10 003 8000
Celeste Riekert Investor Relations Coal of Africa +27 10 003 8000
Tony Bevan Company Secretary Endeavour Corporate Services +61 08 9316 9100
Company advisors:
Jos Simson/Emily Fenton Financial PR (United Kingdom) Tavistock +44 20 7920 3150
Matthew Armitt/Ross Allister Nominated Adviser and Broker Peel Hunt LLP +44 20 7418 8900
Richard Morgan Broker Mirabaud Securities LLP +44 20 7878 3360
Charmane Russell/Olwen Auret Financial PR (South Africa) Russell & Associates +27 11 880 3924 or
+27 82 372 5816
Investec Bank Limited is the nominated JSE Sponsor
About CoAL:
CoAL is an AIM/ASX/JSE listed coal exploration, development and mining company operating in South Africa. CoAL’s key projects
include the Vele Colliery (coking and thermal coal), the Greater Soutpansberg Project /MbeuYashu, including CoAL’s Makhado Project
(coking and thermal coal).
AU: Coal of Africa Limited, Suite 8, 7 The Esplanade, Mount Pleasant, Perth WA 6153, Australia, Tel: +61 8 9316 9100, Fax: +61 8 9316 5475
ZA: South Block, Summercon Office Park, Cnr Rockery Lane and Sunset Avenue, Lonehill, 2191, Tel: +27 10 003 8000 Fax: +27 11 388 8333 Email: adminza@coalofafrica.com
Bernard R. Pryor – Chairman, David H. Brown – Chief Executive Officer, De Wet O Schutte
Non-executive directors: Peter G. Cordin, Andrew D Mifflin, Khomotso B. Mosehla ,Thabo F Mosololi, Rudolph H. Torlage
Date: 08/03/2016 09:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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