LONDON (Alliance News) - MC Mining Ltd on Monday said its subsidiary, Baobab Mining & Exploration Ltd, has been granted an amendment to the 2016 Environmental Authorisation of the Makhado Project by a government department.
Baobab owns and is developing the Makhado hard coking and thermal coal project in South Africa. The amendment will allow Baobab to transport coal to the Musina rail siding by road instead of rail and was granted by the Limpopo Department of Economic Development, Environment & Tourism, or LEDET.
Baobab has also applied to the Department of Mineral Resources regarding the amendment, and will need permission from both departments before the amendment is fully granted. Shareholders can also appeal the amendment.
"The decision by LEDET reinforces the government's support for Makhado and the project's potential to contribute to socio-economic development in the area. We await the record of decision from the Department of Mineral Resources and have commenced the process to obtain surface rights access in terms of South African mining legislation," said MC Mining Chief Executive David Brown.
Shares in MC Mining were untraded at 19.50 pence on Monday.
Mc Mining (MCM)