031110 A new study has found that SA coal reserves have been significantly downsized since 2003.photo by Simphiwe Mbokazi 453

Johannesburg-listed shares of Coal of Africa surge more than 9 percent, adding to a 4 percent gain in the previous session, when the coal mining and exploration company said 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 9.3 precent at 3.18 rand, making it the second-biggest percentage gainer on the All-share index. - Reuters