Mar 04th 2013 - Edison Investment Research today published a report on Coal of Africa (CZA.L, LSE:CZA, LON:CZA) entitled "Force Majeure To Affect Exports". In summary, the report says:
On 28 February, Coal of Africa (CoAL) declared force majeure on its export sales following the derailment of 10 railcars at the Maputo rail corridor. As a result, all traffic between Komatipoort and Maputo was suspended for at least seven weeks. This blow comes just a few weeks after the company suffered flooding at the Vele mine. Both events will have a pronounced impact on the company’s financial performance in H213, unless it manages to adjust its production and redirect at least some of its export supplies to the domestic market.
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