Coal of Africa to sell stake in NuCoal Mining Proprietary

5th Feb 2014 11:00

Coal of Africa has been granted regulatory approval for the disposal of its shares in South African business NuCoal Mining Proprietary.Coal will receive 80m South African Rand for the sale of business after getting the green light from the Department of Mineral Resources.Chief Executive David Brown, said: "The successful completion of this disposal is another significant step forward in our execution of the five-point turnaround strategy as earlier communicated by the company."Shares rose 4.04% to 5.80p at 11:15 on Wednesday.RD

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