IN BRIEF: MC Mining Uitkomst Production Suffers From Lockdown Halt

Fri, 31st Jul 2020 12:08

MC Mining Ltd - London and Johannesburg-listed coal miner - Fourth quarter production at 70%-owned Uitkomst, located in the KwaZulu Natal province, down 66% year on year to 41,536 tonnes from 121,742 tonnes. Own sales down 78% to 16,707 tonnes from 75,643 tonnes. Revenue per tonne down 18% to USD57.88 from USD70.87. Lockdown also resulted in the majority of Uitkomst's customers suspending operations and sales of high-grade metallurgical, thermal and high-ash middlings coal were 74% lower.

Current London stock price: 5.75 pence

Year-to-date change: down 79%

Current Johannesburg stock price: ZAR1.14

Year-to-date change: down 84%

By Paul McGowan; paulmcgowan@alliancenews.com

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