Last checked at 13 Feb 2018 07:00
ANNOUNCEMENT 13 February 2018
INTEGRATED WATER USE LICENCE GRANTED FOR VELE COLLIERY
MC Mining Limited ("MCM" or the "Company") is pleased to announce that the South African Department of Water and Sanitation has granted an Integrated Water Use Licence in terms of the National Water Act (Act 36 of 1998) for the Vele Colliery's stream diversion and associated infrastructural activities.
This approval completes the full regulatory suite of all authorisations required for the Vele Colliery. As previously advised, the final decision on whether to proceed with the Plant Modification Project will be placed before the Company's Board, which will include an assessment of long term pricing as well as logistics considerations. The Board will evaluate all options available, which will be communicated at the appropriate time.
Mr David Brown, Chief Executive Officer, commented:
"We welcome this decision and the securing of all the regulatory authorisations for the Colliery. Furthermore, this decision is a confirmation of government's support of the Company's co-existence model which facilitates the co-existence of mining, agriculture and heritage land uses in line with the historic biodiversity offset agreement between the Department of Environmental Affairs, the South African National Parks and MCM."
Authorised by
David Brown
Chief Executive Officer
For more information contact: | |||
David Brown | Chief Executive Officer | MC Mining Limited | +27 10 003 8000 |
Tony Bevan | Company Secretary | Endeavour Corporate Services | +61 08 9316 9100 |
Company advisors: | |||
Jos Simson/Barney Hayward/ Annabel de Morgan | Financial PR (United Kingdom) | Tavistock | +44 20 7920 3150 |
Ross Allister/Richard Crichton/James Bavister | Nominated Adviser and Broker | Peel Hunt LLP
| +44 20 7418 8900 |
Charmane Russell/Olwen Auret | Financial PR (South Africa) | Russell & Associates | +27 11 880 3924 or +27 82 372 5816 |
Investec Bank Limited is the nominated JSE Sponsor | |||
About MC Mining Limited:
MC Mining Limited (MCM) is an AIM/ASX/JSE listed coal exploration, development and mining company operating in South Africa. MCM's key projects include the Uitkomst Colliery (metallurgical coal), Makhado Project (coking and thermal coal). Vele Colliery (coking and thermal coal), and the Greater Soutpansberg Projects (MbeuYashu).
Forward-Looking Statements
This Announcement, including information included or incorporated by reference in this Announcement, may contain "forward-looking statements" concerning MC Mining Limited (MCM) that are subject to risks and uncertainties. Generally, the words "will", "may", "should", "continue", "believes", "expects", "intends", "anticipates" or similar expressions identify forward-looking statements. These forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements. Many of these risks and uncertainties relate to factors that are beyond MCM's ability to control or estimate precisely, such as future market conditions, changes in regulatory environment and the behaviour of other market participants. MCM cannot give any assurance that such forward-looking statements will prove to have been correct. The reader is cautioned not to place undue reliance on these forward looking statements. MCM assumes no obligation and do not undertake any obligation to update or revise publicly any of the forward-looking statements set out herein, whether as a result of new information, future events or otherwise, except to the extent legally required.
Statements of intention
Statements of intention are statements of current intentions only, which may change as new information becomes available or circumstances change.