MC Mining CEO David Brown
Photo by: Creamer Media
South Africa's Department of Mineral Resources and Energy (DMRE) has granted a mining right for MC Mining's 74%-owned Generaal coking and thermal coal project, in Limpopo.
The project contains more than 407-million tonnes of inferred coal resources and supports MC's strategy of being South Africa’s pre-eminent producer of hard coking coal.
The Generaal project, together with the Chapudi and Mopane projects, make up the company’s longer-term Greater Soutpansberg project (GSP).
“The granting of the Generaal project mining right is a further step in unlocking value from MC’s significant coking and thermal coal assets, positioning the GSP to be a potential long-term coal supplier to industrial users both local and offshore, including the planned Musina-Makhado Special Economic Zone.
"The long-term development of the three GSP project areas is complementary to our flagship Makhado hard coking coal project. The company has made significant progress in advancing Makhado during the last 12 months and anticipates completing the Phase 1 capital raise process in the near term in order to facilitate the commencement of construction in the first quarter of the 2020 calendar year," comments CEO David Brown.
ASX-, JSE- and Aim-listed MC submitted mining right applications for the three GSP project areas to the DMRE during 2013. A mining right for the Chapudi project was granted in December 2018.