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Business Description: Coal of Africa Limited (CZA) is a coal exploration, development and mining company operating in South Africa. The key projects include the Vele Colliery (coking and thermal coal), the Greater Soutpansberg Project, Makhado Project (coking coal) and the Mooiplaats and Woestalleen Collieries (both thermal coal). CZA is also listed on the London and Johannesburg stock exchanges.
Strategy Analysis: The business strategy for CZA is to become a significant thermal and metallurgical coal producer, supplying global and South African markets. In 2010, CZA completed the acquisition of NuCoal Mining, a thermal coal producer with assets in South Africa in close proximity to CZA´s Mooiplaats mine.
Coal Of Africa reported negative cash flow of US$12.19m for the quarter ended 31 December 2012. Operating cash flow for the period was US$(17.59m). Payments for exploration and evaluation were US$(1.97m). Investing cash flow was US$(13.8m). Financing cash flow was US$19.2m. Cash in hand at the end of the quarter was US$18.55m.
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