Continental Receives SARB Approval for Acquisition of Mashala Resources

Emerging mid-tier South African focussed coal producer Continental baxter stone crusher co englandCoal Limited is pleased to announce that the Company’s South African subsidiary Continental Coal Limited (CCL) received confirmation that it had received the necessary approval from the South African Reserve Bank for it to complete the acquisition of unlisted South African thermal coal mining and export coal producing company Mashala Resources (“Mashala”).

The only outstanding South African governmental approval now remaining for CCL to complete the acquisition of Mashala is approval by the Department of Minerals and Resources for the transfer of the mining rights. The applications and accompanying information were submitted in August and approval is expected to be received in the coming weeks with settlement of the acquisition to follow immediately thereafter.