Coal of Africa (CZA)

Shares / Stock Code

CZA

Stock Exchange / Sharemarket

Australian Securities Exchange

Coal of Africa (CZA) is focused on building a position in metal processing and coal mining in southern Africa. Its metal-processing interests are held in NiMag Ltd, a large producer of nickel magnesium alloys. It also has a 100% interest in the Holfontein coal project, as well as a 74% interest in the opencast Limpopo coal project. The company is initially concentrating its operations in South Africa, with a plan to expand into Australia at a later date.

The company listed on the Australian stock market (ASX) in April 1980 and was focused on minerals exploration in Western Australia an Indonesia. The company has since redirected its focus from being a gold, platinum and base metals explorer to becoming a metals processing and coal mining business targeting predominantly South African mining and minerals processing assets. In 2005 it decided to seek listing on the London Stock Exchange's Alternative Investment Market (AIM) in order to expand its shareholder base.

CZA reports that the Holfontein coal project contains an indicated resource of 56 million tonnes containing both steaming and metallurgical coal, and that the Limpopo project contains an inferred resource of 352 million tonnes also containing both steaming and metallurgical coal. CZA aims to continue to enlarge its coal assets in the coming years.

As of June 30, 2009, the Company acquired a 25% interest in Massabi coal field in southern Zimbabwe. In July 2009, the Company secured the remaining 26% interest in Limpopo Coal Company (Pty) Ltd. In January 2010, the Company announced that it has completed the acquisition of NuCoal Mining (Pty) Limited.

Major competitor include other mineral processing company in Australia and overseas. Customers for nickel magnesium alloys produced by Nimag include the aeronautical, aerospace and motor industries. The continued strength of he South African currency has made it difficult for CZA to be competitive in its export markets.

Coal of Africa (CZA) Products and Services

  • Coal Mining & Metals Processing

Coal of Africa (CZA) Locations and Subsidiaries

Coal of Africa Head Office
Level 1, 173 Mounts Bay Road,
PERTH, WA, AUSTRALIA, 6000
Phone: (08) 9322 6776
Fax: (08) 9322 6778

Coal of Africa (CZA) Share Price

Submitted by ASX Listed Company on 23 May, 2010 - 03:57

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