Coal of Africa Ltd has revealed a Black Economic Empowerment ownership structure for the Chapudi coal project.

CoAL said it had entered into definitive agreements with Rothe Investment and Vibrant Veterans both Black Economic Empowerment companies and King Makhado Holdings, a company representing all the local communities in close proximity to the project, to acquire a 26% shareholding in CoAL's wholly owned subsidiary subsidiary Keynote Trading & Investment 108 Proprietary.

Keynote is expected to hold the Chapudi coal project and related exploration properties upon completion of its acquisition from Rio Tinto Minerals and Kwezi Mining Proprietary.

(Sourced from StockMarketWire.com)