Last checked at 13 Jul 2021 13:04
ANNOUNCEMENT 13 July 2021
TEMPORARY SUSPENSION OF COLLIERY OPERATIONS
MC Mining Limited ("MC Mining" or the "Company") advises operations at its 70% owned Uitkomst colliery have been temporary suspended pending resolution of the civil unrest which has spread throughout the KwaZulu-Natal province in South Africa. The violence has been reportedly linked to the recent imprisonment of former President Jacob Zuma.
Unfortunately, protests, road blockages, and attacks targeting transport vehicles have been reported across KwaZulu-Natal, including the towns and communities where the majority of the Uitkomst mine employees and contractors reside.
MC Mining's interim CEO, Sam Randazzo, commented:
"Our first priority is the safety of our employees and contractors and we have taken this immediate action to protect their well being. Temporarily halting the colliery operations should also discourage activists from entering the Uitkomst site."
"Authorities have deployed security forces to areas where protests are occurring, and we remain hopeful of a speedy resolution so that our employees and contractors can return to work and for recommencement of operations at the Uitkomst colliery."
The current situation remains fluid and Company management continue to carefully monitor developments. Market updates will be provided as and when the situation changes.
Authorised by
Bernard Pryor
Chairman
This announcement has been approved by the Company's Disclosure Committee.
This announcement is inside information for the purposes of Article 7 of Regulation 596/2014.
ASX: MCM / AIM: MCM.L / JSE: MCZ
For more information contact: |
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Sam Randazzo | Interim Chief Executive Officer | MC Mining Limited | +61 408 945010 |
Tony Bevan | Company Secretary | Endeavour Corporate Services | +61 08 9316 9100 |
Company advisors: |
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James Harris / James Dance | Nominated Adviser | Strand Hanson Limited
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Rory Scott | Broker (AIM) | Tennyson Securities | +44 20 7186 9031
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James Duncan | Financial PR (South Africa) | R&A Strategic Communications | +27 11 880 3924 |
Investec Bank Limited is the nominated JSE Sponsor |
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About MC Mining Limited
MC Mining is an AIM/ASX/JSE-listed coal exploration, development and mining company operating in South Africa. MC Mining's key projects include the Uitkomst Colliery (metallurgical and thermal coal), Makhado Project (hard coking coal). Vele Colliery (semi-soft coking and thermal coal), and the Greater Soutpansberg Projects (coking and thermal coal).
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 MC Mining's ability to control or estimate precisely, such as future market conditions, changes in regulatory environment and the behaviour of other market participants. MC Mining 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. MC Mining assumes no obligation and does 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.