LONDON (Alliance News) - MC Mining Ltd said Thursday it has signed a preliminary agreement with Chinese construction enterprise China Railway International Group Co Ltd for the Makhado hard coking and thermal coal project located in the Limpopo province of South Africa.
Under the heads of agreements, MC Mining and China Railway have agreed to negotiate a package that comprises the engineering, procurement and construction for the Makhado project, coal handling and processing plant, financing for 85% of the EPC costs, and contract mining operations.
The miner also said off-take agreement discussions for hard coking and export thermal coal production from Makhado are ongoing with various parties.
Shares in MC Mining were up 3.6% at 21.75 pence each on Thursday afternoon in London. They were up 1.0% at ZAR4.00 in Johannesburg.
Mc Mining (MCM)