CoAL agrees to $75 million purchase of Rio Tinto's Chapudi mine

摘要

South African miner Coal of Africa (CoAL) announced November 29 it has agreed to buy some Rio Tinto coking and thermal coal exploration assets including the Chapudi coal project for $75 million. The Chapudi purchase from joint venture companies held by Rio Tinto Minerals Development and Kwezi Mining, provides CoAL with an additional estimated 1.04 billion mt JORC resource, of which 90 million mt is measured, 220 mil- lion mt indicated and 730 million mt inferred, CoAL said.