CoAL will need more capital to get Makhado project running, analyst says

Coal of Africa (CoAL) will require more capital to fund its Makhado coking coal project in South Africa’s Limpopo province, even after securing around $60 million of new debt and equity financing, an analyst told Metal Bulletin.

The company is getting $58.7 million from Investec in return for shares, the company said. However, Johannesburg-based equity analyst said that the company needed to raise more capital to finance the start-up of Makhado, which is set to produce...


Bianca Markram

July 20, 2012

17:20 GMT