Coal of Africa to finalise deal

Coal of Africa, the coal developer, said yesterday it expects its acquisition of the Chapudi coal project to be finalised by the end of April next year. The original fulfilment date was first set at 1 August and earlier this month extended to 12 August. The firm is buying the Chapudi coal project and related exploration properties in South Africa from joint ventures held by Rio Tinto and Kwezi Mining for $75m (£45.8m).