The company signed the SPA on 26 November 2010 to acquire the coal assets from joint venture companies held by Rio Tinto Minerals Development and Kwezi Mining (the vendors).
The SPA has been extended to allow for the remaining regulatory approvals required, including Ministerial consent in terms of section 11 of the Mineral and Petroleum Resources Development Act for the acquisition of the coal assets.
According to CoAL, the date for fulfillment of the conditions precedent has accordingly been extended from 12 August 2011 until 30 April 2012.
