CoAL seeks greater self-sufficiency after transformational FY17

Following an “extremely positive and transformational year” in which South Africa-focused Coal of Africa Limited (CoAL) achieved significant milestones, such as the settlement of significant liabilities and transitioning into a coal producer with the acquisition of the cash-generative Uitkomst colliery, the company will be advancing further toward self-sufficiency. “CoAL is looking forward to a potential secondary acquisition and/or the Makhado project coming to fruition within a short period of time,” CoAL CEO David Brown noted on Friday during a teleconference to discuss the company’s audited financial statements for the financial year ended June 30.