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Coal of Africa to shut SA colliery

Jun 03 2013 12:35
Reuters
Johannesburg - Junior coal mining firm Coal of Africa [JSE:CZA] plans to shut its Mooiplaats colliery and will begin talks with unions and other parties on potential job cuts, it said on Monday. 

"(Coal of Africa) recognises the importance of conserving jobs, but at the same time the need to preserve the company's financial structure and ensure its future sustainability is paramount," said chairperson David Brown.

The colliery employs nearly 550 people, including 258 contractors.
 

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