Register now for Fin24 Dashboard and get access to portfolios, watchlists, financial comparison tools, and a whole lot more to help you achieve your financial goals.

Data provided by McGregor BFA
All data is delayed
Loading...
Where am I? Home
 
Prices are delayed by 15min.
Join the Fin24.com conversation about JSE-listed stock by using every time you tweet.

Mapungubwe mining go-ahead defended

Jul 20 2011 16:52 Sapa

Company Data

Coal Of Africa Ltd [JSE : CZA]

Last traded R4.30
Change R-0.30
% Change -6.52%
Cumulative volume 1.24m
Market cap R2.85bn

Last Updated: 25/05/2012 at 19:32. Prices are delayed by 15 minutes. Source: McGregor BFA

 

Related Articles

CoAL shares rocket on Vele go-ahead

Coal of Africa gets licence for Vele

Coal of Africa raises $50m loan

Anglo eyes Mapungubwe's sacred land

CoAL runs low on available cash

CoAL plans new mines for Limpopo

 

Top Stories

Gauteng road project costs rocket

May 25 2012 13:58

The costs of the first phase of the Gauteng Freeway Improvement Project have increased significantly to almost R90bn, according to a report.

Greek euro worries pressures rand

May 25 2012 19:13

Uncertainty over the future of the euro zone returned to push the rand down against the dollar.

JSE halts 'incorrect' trade

May 25 2012 11:36

The JSE has identified and stopped "incorrect" trades from one of its members, and will reverse the trades and lower the session's total value after the close.

 
Share Share line Print

Pretoria - Science, not emotion, was behind the decision to grant a permit to Australian mining company Coal of Africa [JSE:CZA] (CoAL), to continue construction near the Mapungubwe world heritage site, the environmental affairs department said on Wednesday.

"When we deal with biodiversity, we need science... and it informs us," deputy director-general for biodiversity and conservation, Fundisile Mkhetheli, told journalists in Pretoria.

"Studies were done and emotions must be set aside and science (put) upfront."

He said instead of people basing their judgement on emotions, they should instead look at studies that had been conducted.

Various organisations protested against the development in Mapungubwe, in Limpopo, even threatening legal action should the department decide to grant authorisation for further construction.

The department's Ishaam Abader defended the decision to give environmental consent for CoAL's Vele colliery, saying any impact could be mitigated. Indigenous vegetation could be moved from where roads would be built, and planted elsewhere.

Abader said the company would have to abide by special conditions due to the project's proximity to Mapungubwe. The mine is about 6km from the Mapungubwe National Park.

Operations at the mine were put on hold in August 2010 when it was discovered the company did not comply with the National Environmental Management Act. CoAL subsequently paid the department a R9.25m administrative fine.

A notice of intention to appeal the department's decision had to be lodged with the minister within 20 days, from the date of the authorisation, July 5. No appeals had been received by Wednesday, said Abader, adding that the public had until July 25 to do so.

 

 
 
Comment on this story
0 comments
Add your comment
Comment 0 characters remaining
Facebook's intrinsic value
May 23 2012 11:32

When it comes to judging a company’s worth, value investors like Warren Buffett look at intrinsic value. By that measure, Facebook’s shares are worth less than $10. A Reuters analyst breaks down the math. (Reuters)

NicolaaSmith

CIPPA equals automatic zero erosion in the constant item economy We do not have stable – as in fixed real value – money. The real value of money is generally accepted by the public at large to be stable – as in fixed – in low inflation economies, but this is not true. The be... Read their blog...

Recently updated
Podcasts
The Sishen saga

Legal expert Peter Leon on the increasingly complex legal wrangle over the Sishen Iron Ore mine. Time: 8:17 Listen Here...

Before you list

Is the clarion call of the JSE calling? Listen to Fin24’s expert panel discussion before you list your small business. Time: 17:29

Compare and Buy

Compare and apply for hundreds of financial products from many suppliers.

Credit cards Medical aid Current accounts Think Money

Money Clinic

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

Loading...