Coal of Africa Ltd CZA Transfer of US$20 million received from BHE

  Coal of Africa Ltd (CZA) - Transfer of US$20 million received from BHE

RNS Number : 2716S
Coal of Africa Limited
29 November 2012




ANNOUNCEMENT
29 November 2012

                                      

                    Transfer of US$20 million payment from

                 Beijing Haohua Energy Resource Co. completed



Further to the  announcement of 28  November 2012, Coal  of Africa Limited  is 
pleased to confirm transfer and receipt  of the US$20 million previously  held 
in the escrow account on behalf of Haohua Energy International (Hong Kong) Co.
Limited, a  wholly owned  subsidiary  of Beijing  Haohua Energy  Resource  Co. 
Limited.



Authorised by

JOHN WALLINGTON

Chief Executive Officer

28 November 2012







For more information contact:

David Brown     Non-Executive Chairman  Coal of Africa +27 11 575 4363
John Wallington Chief Executive Officer Coal of Africa +27 11 575 4363
Sakhile Ndlovu  Investor Relations      Coal of Africa +27 11 575 6858



Company advisors:

Jos   Simson/Emily Financial       PR Tavistock                       +44   20 
Fenton             (United Kingdom)                                   7920
                                                                      3150
Chris     Sim/Neil Nominated Adviser  Investec                   Bank +44   20 
Elliot                                plc         7597
                                                                      5970
Robert Smith       JSE Sponsor        Investec Bank Limited           +27   11 
                                                                      286 7000
Charmane           Financial       PR Russell & Associates      +27   11 
Russell/Jane Kamau (South Africa)                                 880 3924
                                                                      or

                                                                      +27   82 
                                                                      372 5816



About CoAL:

CoAL is an AIM/ASX/JSE listed coal exploration, development and mining company
operating in  South Africa.  CoAL's  key projects  include the  Vele  Colliery 
(coking and thermal coal), the Greater Soutpansberg Project, including  CoAL's 
Makhado Project (coking  coal) and the  Mooiplaats and Woestalleen  Collieries 
(both thermal coal).

                     This information is provided by RNS
           The company news service from the London Stock Exchange

END


MSCUWAORUVAAUUA -0- Nov/29/2012 07:01 GMT