Shareholders approve Coal of Africa name change to MC Mining
JOHANNESBURG (miningweekly.com) – South Africa-focused coal exploration, development and mining company Coal of Africa (CoAL) has received shareholder approval for its intended name change to MC Mining following the company’s annual general meeting in November.
The name change was first proposed in October. At the time, CoAL CEO and executive director David Brown noted that MC Mining was considered an appropriate name as it defined the company’s geographic and operational focus.
He explained that it was the view of the board that the company rebrand to reflect its potential growth, particularly of its hard coking (metallurgical) coal prospects.
As at September, CoAL’s available cash was $7.8-million, with restricted cash of $500 000.
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