Loading...
See More

CoAL's Vele water use licence suspended

Jul 29 2011 09:42 I-Net Bridge

Company Data

COAL OF AFRICA LIMITED [JSE:CZA]

Last traded 0
Change -0,07
% Change 0
Cumulative volume 1676403
Market cap 467.77m

Last Updated: 19-12-2014 at 04:36. Prices are delayed by 15 minutes. Source: McGregor BFA

Related Articles

Coal of Africa gets the nod for Vele

Coking coal production to boost Limpopo

Coal sector talks resume

Optimum hit by coal strike

Coal strike kicks off

Coal workers set for strike

 
Johannesburg - Coal of Africa [JSE:CZA] advised Friday that the Integrated Water Use Licence (IWUL) for its Vele Colliery has been suspended.

The suspension is in terms of section 148(2) (b) of the South Africa National Water Act due to an appeal to the Water Tribunal submitted by an NGO coalition on July 28.

"The appeal automatically suspends the IWUL unless the Minister of Environmental and Water Affairs directs otherwise. CoAL has the right to and is in the process of preparing an urgent appeal to the Minister requesting that the IWUL remains in full force and effect in this interim period and until the final conclusion of the appeal. If the company is successful in its representation to the Minister the Company will be able to continue all activities, including the water uses per the IWUL," it said.

In the interim, the company is therefore unable to continue with activities at the Vele Colliery that require water use, however in anticipation of recommencing operations, the planning in relation to other construction and mining activities that do not require the use of water are ongoing.

CoAL CEO John Wallington said: "Whilst we acknowledge the coalition's right to appeal against the granting of the IWUL, we are equally aware of our right to make representations to the Minister to lift the suspension. The NGO coalition has publicly indicated their intention to file an appeal.

"The Company is actively engaging with the Minister to resolve this appeal process as soon as possible. Although the appeal limits our use of water at Vele, mobilisation continues towards bringing the mine into production. We are pursuing our right with the firm conviction that the responsible development of the Vele Colliery is in the interests of the broadest cross-section of our stakeholders and of South Africa as a whole," he said.  

coal of africa
NEXT ON FIN24X

 

Lastest Articles

Here is how to check your credit score and manage it Read More...
Top tips to save money over the festive period Read More...
These are the top 5 most fuel efficient cars in SA Read More...
What to consider when switching medical aid schemes Read More...
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

Brought to you by BizNews

More from BizNews

We're talking about:

Small Business

Retailers of any shape and size can now unlock the power of mobile transacting.
 

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...
Loading...