BLACK ECONOMIC EMPOWERMENT AGREEMENT EXECUTEDBlack Economic Empowerment Agreement • December 10th, 2009
Further to its announcement on 30 September 2009, Coal of Africa Limited (“CoAL” or the “Company”), the AIM/ASX/JSE listed coal mining and development company operating in South Africa (ticker: CZA), is pleased to confirm that it has now executed formal agreements with Firefly Investments 163 (Proprietary) Limited (“Firefly”), its Broad-Based Black Economic Empowerment (“BBBEE”) partner (“BBBEE Agreements”), as part of CoAL's efforts to ensure compliance with South African legislative requirements for black empowered groups to hold at least a 26% participation in mining companies by 2014 and to pave the way for the Company’s long term future in South Africa (“BEE Transaction”).
