Coal of Africa jumps on Vitol deal

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Coal

Independent Newspapers

Shares of Coal of Africa are up 13 percent after the junior coal producer said it struck a marketing deal designed to boost its exports of coking and thermal coal.

The deal with Vitol Coal, one of the world's top five coal traders, gives Coal of Africa access to a global marketing network that will help develop export markets as it bring its first projects into production.

Coal of Africa is focused on developing its Vele and Makhando mines in South Africa. The company's shares are trading at 2.60 rand in Johannesburg. - Reuters


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