COAL of Africa (CoAL) chairman and interim CEO, David Brown, has outlined the company’s new strategy in its annual report.
Based in South Africa, CoAL has two operating collieries, three processing plants and a valuable suite of coal resources in evaluation and feasibility phases, enabling future growth according to the report.
The company’s operations and projects comprise:
- Vele Colliery, situated in the Limpopo province, commenced production of thermal coal in January 2012 which will simultaneously produce semi-soft coking coal and sized and un-sized thermal coal after the completion of the second construction phase;
- Mooiplaats Colliery and Woestalleen Complex in the Mpumalanga province;
- Makhado Coking Coal Project, in the Limpopo province;
- Greater Soutpansberg Project (MbeuYashu), in the Limpopo province, which has a significant hard coking and thermal coal resource.
CoAL’s strategy include plans to focus on the evaluation and responsible development of coking coal and thermal projects in South Africa, with Vele and Makhado the first projects in the short term.
The company explained: “Inherent in our strategy is a determination to ensure that CoAL is well positioned to survive the current market turmoil and emerge as a company that will reflect its significant upside.”
“We now have a strategy for a sustainable future in which CoAL will be a viable coal producer generating value for all its stakeholders”, commented Brown. “CoAL has made significant progress in the execution of its focussed turnaround strategy. The strategy will reposition CoAL as a project development company with a significant pipeline of hard coking coal near term and longer term projects”.
Edited from various sources by Katie Woodward
Read the article online at: https://www.worldcoal.com/coal/21102013/coal_chairman_outlines_new_company_strategy_161/