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CoAL has settled its Rio Tinto repayment

Published by
World Coal,

Coal of Africa Limited CoAL and its subsidiary company, MbeuYashu Proprietary Limited (MbeuYashu) have announced that CoAL has fulfilled all its obligations to Rio Tinto Minerals Development Limited (Rio Tinto) in June 2017 in relation to the agreements under which MbeuYashu acquired interest in Chapudi Coal Proprietary Limited and Kwezi Mining Exploration Proprietary Limited.

David Brown, Chief Executive Officer of CoAL commented, “The final repayment and completion of the Rio Tinto Chapudi transaction is a milestone for the company, as it resolves the outstanding legacy issues which have plagued the company for the past five years. We continue to focus on progressing our flagship Makhado Project which will deliver significant value for all our stakeholders.”

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