Coal of Africa Limited (CZA) – Update on Mooiplaats Coal Project

Coal of Africa Limited (CZA) – Update on Mooiplaats Coal Project

Coal of Africa Limited (CZA) is pleased to provide the following update on progress of production at its Mooiplaats thermal coal project in South Africa:

Highlights
• The first continuous miner is expected to commence cutting of the underground coal portals during the latter half of November 2008, at which time the Company also expects to take delivery of its second continuous miner.
• Processing structures are expected to be erected on site during Q1 2009, with commissioning by March 2009 and first sales to take place by the end of H1 2009.   
• Negotiations with Transnet Freight Rail are close to completion and the Company remains confident that it will secure adequate rail allocation to match the already secured port capacity at the dry bulk terminal at Richards Bay.


Managing Director, Simon Farrell commenting on the Mooiplaats progress said, "I am pleased to report continued progress at the Mooiplaats coal project, largely in line with scheduled timing. Cutting of the underground coal portals will commence shortly, and the second continuous miner is scheduled for handover  on 24th November.

These developments leave us on track for commissioning by March 2009 and first sales to take place by the end of H1 2009."

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