Continental Coal Limited is a South Africa-based thermal coal producer with a portfolio of producing and advanced coal projects located in South Africa's major coal fields. It is principally engaged in mining and development of coal projects. During the fiscal year ended June 30, 2012 (fiscal 2012), the Company focused on mining in South Africa at the Ferreira and Vlakvarkfontein operations, and the construction of its third mining operation at Penumbra. Continental also continued exploration and development on its other existing coal assets in South Africa and Botswana. On July 25, 2011, its South Africa-based subsidiary, Continental Coal Ltd, acquired 100% of the share capital of Ultimatum Challenge Trading (UCT) Pty Ltd. On November 21, 2011, it acquired 100% of the Wolvenfontein Coal Project. In May 2013, the Company acquired 16.113% stake in Continental Coal Ltd.