CoAL, Rio Tinto reach new agreement over disputed deferred payment

Triple-listed Coal of Africa Limited (CoAL) on Wednesday said it had reached an agreement with Rio Tinto Minerals Development and Rio Tinto’s joint venture partner Kwezi Mining over the deferred consideration payable by CoAL subsidiary MbeuYashu. Following the receipt – and subsequent dispute by CoAL – in March of a notice by Rio Tinto of a breach of a deferred consideration payable by MbeuYashu for the acquisition of the Limpopo-based Chapudi coal assets, the parties had successfully concluded a mediation process.