www.miningreview.com | Vele coal project moves closer to finalisation: "Johannesburg, South Africa --- MININGREVIEW.COM --- 05 September 2011 - Coal of Africa (CoAL) has taken another step towards securing its tenure over the Vele coking coal development project – located close to the Mapungubwe World Heritage Site in Limpopo – by agreeing to measures aimed at offsetting its mining activities with a series of biodiversity programmes.
Miningmx reports that the JSE and ASX-listed coal miner has signed a memorandum of understanding (MoU) with the Department of Environmental Affairs (DEA) and South African National Parks (SANParks). Concluding the deal forms part of the conditions attached to CoAL’s environmental authorisation permit for Vele, granted in July.
The company’s shares traded 8.9% higher at R8.50 following the announcement, before retreating to R8.20 (up 5.1%) ."
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