COAL OF AFRICA LIMITED (CZA)

COAL OF AFRICA LIMITED (CZA)

SECURES LONG TERM PORT ALLOCATION

Coal of Africa Limited (CZA), is pleased to advise that it has today secured long term port allocations for the export of product from its Makhado and Vele coal projects, and the Mooiplats thermal coal project through the Maputo and Richards Bay ports terminal respectively. 
Throughput agreements signed provide for an allocation to CoAL of 1,000,000 metric tonnes of coal per annum through the Matola dry bulk coal terminal in Maputo and a ramp up to 900,000 metric tonnes of coal per year through the Grindrod Terminals dry bulk export terminal at Richards Bay by 2010. 
Furthermore and significantly, CoAL has secured the rights to up to 100% of any increased capacity at the Maputo Terminal and up to 50% of any increased capacity to the Richards Bay Terminal, in return for CoAL participating in the funding of any proposed expansions at these terminals.

CoAL’s Managing Director Simon Farrell commented:

“Securing these port allocations in an environment where infrastructure remains a supply side constraint across the industry is a significant milestone in facilitating the Company’s near and long term coal export plans.”

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