Coal of Africa has offloaded its Mooiplats thermal underground coal mine, as it looks to dispense of non-core assets.
The coal mine has been sold for US$ 23.5 million to a wholly-owned subsidiary of Blackspear Holdings. Blackspear must prove evidence of funding before the end of October 2014.
The Mooiplats mine, in the Ermelo coalfield in the Mpumalanga province of South Africa, has been placed on care and maintenance since October 2013.
Edited from various sources by Sam Dodson