(Alliance News) - MC Mining Ltd on Thursday said the South African Department of Mineral Resources & Energy has granted the remaining mining right for its Mopane coking and thermal coal project in Limpopo.
The producer of thermal and coking coal focused on South Africa said the Mopane project contains 230 million gross tonnes of measured and indicated coal resources.
"The granting of the Mopane project mining right is a further step in unlocking value from MC Mining's significant coking coal assets, positioning the greater Soutpansberg project to be a potential long-term coking coal supplier to industrial users, both local and offshore," Acting Chief Executive Brenda Berlin said.
The Mopane project, together with the Chapudi and Generaal projects, make up the company's longer-term greater Soutpansberg project in the Soutpansberg coalfield in Limpopo.
MC Mining shares were flat at ZAR1.60 each in Johannesburg on Thursday afternoon, and were up 13% at 8.50 pence each in London.
By Greg Roxburgh; gregroxburgh@alliancenews.com
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Mc Mining (MCM)