UPDATE 1-CoAL sees export coal from Mooiplaats by Q1 2010

Mon Jul 13, 2009 8:25am BST
 
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* Sees Mooiplaats run of mine at 1.7 mln T by 2010

* To ramp up Mooiplaats to 3.2 mln T run of mine by 2014

* Expects license for Vele coking cole project in Q3

(Adds details)

JOHANNESBURG, July 13 (Reuters) - South African miner Coal of Africa (CoAL) (CZA.AX) (CZAJ.J) said on Monday to extract first export-quality coal from its Mooiplaats project in South Africa at the latest by the first quarter of next year.

The company had said in the past it expected first saleable production from the mine early in the second half of 2009.

"Export quality thermal coal is now expected to be reached in November 2009 at the earliest, or the first quarter of 2010 at the latest," it said in a statement.

CoAL said it expects Mooiplaats to reach an annual run of mine production of 1.7 million tonnes by 2010, ramping up to 3.2 million tonnes by 2014.

The company also said it expects to receive a mining license for its Vele coking coal project by the end of the third quarter this year.  Continued...

 

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