Coal of Africa to buy South African coal assets of Rio Tinto.

By bne IntelliNews November 30, 2010
Coal of Africa said it had agreed to buy the South African coal assets of global miner Rio Tinto for USD 75mn. Coal of Africa will acquire the Chapudi coal project, which contains an estimated 1,040 million tons of coal and is contiguous with Coal of Africa's Makhado coking coal project, and several other coal exploration properties, the buyer said in a statement. The Soutpansberg Basin is the only coal basin in South Africa that hosts significant premium hard coking coal and this acquisition establishes Coal of Africa as the dominant landholder in the Soutpansberg Basin, the firm said.

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