Johannesburg-listed shares of Coal of Africa jump more than 7 percent in relatively heavy trade after the coal mining and exploration company says Beijing Haohua Energy Resources has won Chinese regulatory approval to invest $100 million in it.
Coal of Africa, which has its primary listing in Australia, is up 7.1 percent at 3 rand, making it the top percentage gainer on the All-share index.
Trade volume also spikes, with more than 2.6 million shares changing hands during the session, well above its daily average of 644,071 shares over the last 90 days in Johannesburg, according to Thomson Reuters data.
Coal of Africa said in October the Chinese firm planned to invest in it. - Reuters