Coal of Africa hit by falling prices
1st Aug 2012 11:42
Coal of Africa said pressure on thermal coal markets was hitting profits, something that was likely to continue into 2013. This meant the South African operator was suffering a funding shortfall, which added to investor concerns as they pushed shares down 7%. The firm said pressure on index linked
Read moreCoal of Africa persuades Investec to pile in
18th Jul 2012 09:42
Coal of Africa, the South-Africa focused but London listed coal company, has been given a big vote of confidence by fellow South African firm Investec. The lender has agreed to provide a $50m credit facility for two years and buy shares worth a cool $8.7m. The agreement also allows for Investec to
Read moreResource round-up: Ind. Resources, Ormonde, Solo Oil ...
18th Jun 2012 09:10
The Italy focused gas company, Independent Resources (IRG), said it is accelerating its strategy review after an earthquake struck the area where its Rivara underground gas storage project is situated. The group said that the whole concept of underground natural gas storage is now being called into
Read moreCoal of Africa ups resource estimate
13th Jun 2012 09:23
Coal of Africa has announced another strategic milestone in its strategy to grow into a significant coking coal producer in South Africa. Its resource and reserve estimate at the Greater Soutpansberg project area, located in the Limpopo Province, has increased by more than 1.3bn mineable tonnes in
Read moreResource stocks round-up: ZincOx, Cadogan, Afferro...
30th Apr 2012 10:32
ZincOx Resources says the initial production test at its Korean recycling plant saw production ramped up to 50% of capacity and produced zinc concentrate and direct reduced iron. The operation of the final piece of equipment, the hot briquetting machine, will occur during the next test run. While o
Read moreLondon close: Banks buoyed by bailout beef-up
19th Oct 2011 16:50
Footsie enjoyed a buoyant if unspectacular day, with almost two-thirds of its constituents finishing in the blue. The market shrugged off the news that Spain's credit rating has been cut by two notches by the Moody's rating agency, and preferred to concentrate on a report in The Guardian newspaper
Read moreLondon midday: Stocks stay buoyant
19th Oct 2011 11:59
Shares are buoyant today, winning back some of the previous day's losses despite ongoing worries over the Eurozone. A 48-hour general strike has been called in Greece ahead of a vote on austerity measures. Spain, meanwhile, had its credit rating cut by two notches last night by the Moody's rating a
Read moreCoal of Africa gets licence back for Vele Colliery
19th Oct 2011 09:31
Shares in Coal of Africa leapt this morning after it regained an integrated water use licence for its Vele Colliery project. The licence had been suspended following an appeal by a coalition of non-governmental organisations, leaving the coal explorer unable to continue activities that required the
Read moreCoal of Africa signs sustainability agreement
1st Sep 2011 11:17
The South Africa focused mining company Coal of Africa has signed an agreement to control development in the Mapungubwe Cultural Landscape World Heritage Site. Together with the South African Department of Environmental Affairs and the South African National Parks service Coal of Africa has agreed
Read moreCoal of Africa shares sink on water licence suspension
29th Jul 2011 13:53
Coal of Africa said the integrated water use licence for its Vele Colliery project has been suspended after an appeal by a coalition of non-governmental organisations, leaving the coal explorer unable to continue activities that require the use of water. The appeal made to the Water Tribunal autom
Read moreLondon close: FTSE 100 limps back above 6,000
6th Jul 2011 16:33
The top share index was above the 6,000 point mark at the close of play, but only just after worries over the Eurozone crisis - and global growth - sent stocks lower. The People´s Bank of China's decision to raise its key policy rate by 25 basis points with effect from tomorrow sent markets into re
Read moreLondon midday: Stocks fall back after Portugal downgrade
6th Jul 2011 12:08
Stocks have sunk below the 6,000 point mark as worries set in again over the Eurozone debt situation. The focus has shifted from Greece to the other side of the Mediterranean after credit rating agency Moody's Investor Service has lowered Portugal's rating to junk status, warning the country may ne
Read moreSouth African approval fires Coal of Africa shares
6th Jul 2011 08:49
Shares in Coal of Africa roared higher after the miner said it had been granted approval to build its project at Vele in South Africa. Construction is expected to be completed in six to nine months and production is expected to reach 1m tonnes a year. The approval was granted by South Africa's Dep
Read moreLondon open: WPP drags sluggish FTSE 100 lower
6th Jul 2011 08:34
Stocks have got off to a sluggish start again today, with most of the excitement to be found among smaller companies. That said, acquisitive advertising conglomerate WPP is the heaviest faller in the large-cap index. It has been waving its debit card about again, this time acquiring a majority stak
Read moreWater licence granted for Coal of Africa's colliery
4th Apr 2011 11:09
Coal of Africa has been granted the integrated water use licence for the company's Vele Colliery. The African mining company said the granting of the licence by the South African Department of Water Affairs brings to an end an application process that started back in November 2009. "The company is
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