Last checked at 3 Sep 2018 13:07
ANNOUNCEMENT 3 September 2018
MAKHADO PROJECT REGULATORY PROGRESS
MC Mining Limited ("MC Mining" or the "Company") is pleased to announce further progress at its fully permitted Makhado hard coking and thermal coal project ("Makhado Project" or "Makhado"), located in the Limpopo province in South Africa.
MC Mining's subsidiary, Baobab Mining & Exploration (Pty) Ltd, the owner and developer of the Makhado Project, applied to both the Department of Mineral Resources ("DMR") and the Limpopo Department of Economic Development, Environment and Tourism ("LEDET") during January 2018 for an amendment to Makhado's 2016 Environmental Authorisation ("EA"). The requirement for the EA amendment arose on completion of the revised Makhado Project plan, whereby saleable coal will be transported to the Musina rail siding by road rather than rail.
The Company is pleased to announce that LEDET has granted the EA amendment for Makhado. Stakeholders may appeal this amendment and any appeal will result in the suspension of the LEDET's authorisation. MC Mining will address this with the regulatory authorities if applicable.
David Brown, CEO commented:
"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 DMR and have commenced the process to obtain surface rights access in terms of South African mining legislation."
Authorised by
David Brown
Chief Executive Officer
For more information contact: | |||
David Brown | Chief Executive Officer | MC Mining Limited | +27 10 003 8000 |
Brenda Berlin | Chief Financial Officer | MC Mining Limited | +27 10 003 8000 |
Tony Bevan | Company Secretary | Endeavour Corporate Services | +61 08 9316 9100 |
Company advisors: | |||
Jos Simson/ Gareth Tredway | Financial PR (United Kingdom) | Tavistock | +44 20 7920 3150 |
Ross Allister/David McKeown/James Bavister | Nominated Adviser and Broker | Peel Hunt LLP
| +44 20 7418 8900 |
Charmane Russell/Olwen Auret | Financial PR (South Africa) | R&A Strategic Communications | +27 11 880 3924 |
Investec Bank Limited is the nominated JSE Sponsor | |||
About MC Mining Limited:
MC Mining 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 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.