Coal mining company Continental Coal and its joint venture partners have received government consent to complete the acquisition of the Vlakplaats coal project in South Africa.
The South African Department of Minerals and Resources granted consent to the joint venture comprising of Korea’s State Mining and Exploration Company and Masawu Investments.
The company had completed financial settlement for the acquisition of the coal project for ZAR130m ($19.1m) in April 2011.
Continental Coal will now begin studies to take Vlakplaats towards development, according to mineweb.com.