JOHANNESBURG Aug 7 (Reuters) – South African miner Coal of
Africa (CoAL) appointed former Impala Platinum
chief executive David Brown as chairman and raised $44.8 million
in a share placement in a move to advance some of its projects,
the company said on Tuesday.
CoAL, which is also listed in London and Australia
, said proceeds of the placement would be used to
finance the ramp-up of its Vele colliery.
Brown joins CoAL after nearly 14 years at Implats, the
world’s second largest platinum producer, and replaces Richard
Linnell, who has stepped down.
(Reporting by Agnieszka Flak; Editing by Ed Stoddard)
© Thomson Reuters 2012 All rights reserved
