Wrap Text
Generaal Mining Right Granted
MC Mining Limited
Previously Coal of Africa Limited
(Incorporated and registered in Australia)
Registration number ABN 008 905 388
ISIN AU000000MCM9
JSE share code: MCZ
ASX/AIM code: MCM
ANNOUNCEMENT 5 November 2019
GENERAAL MINING RIGHT GRANTED
MC Mining Limited (“MC Mining" or the “Company”) is pleased to announce that the South African
Department of Mineral Resources (“DMR”) has granted a mining right for its 74% owned Generaal
coking and thermal coal project (“Generaal Project”) in the Limpopo province.
The Generaal Project, together with the Chapudi and Mopane Projects, comprise the Company’s
longer-term Greater Soutpansberg Project (“GSP”) in the Soutpansberg Coalfield. The GSP is located
within close proximity to the Musina-Makhado Special Economic Zone (“SEZ”), an area designated by
government to focus on, amongst others, energy and metallurgical industries.
The Company submitted mining right applications for the three GSP project areas to the DMR during
2013 and following the Chapudi Project mining right in December 2018, the Generaal Project mining
right is the second of the applications to be granted. The Generaal Project contains over 407 million
gross tonnes in situ of inferred coal resources1 and supports MC Mining’s strategy of being South
Africa’s pre-eminent producer of hard coking coal, used in the steel manufacturing process and
attracting significantly higher sales prices compared to thermal coal.
David Brown, MC Mining’s Chief Executive Officer commented:
1 The GSP independent Competent Persons Report can be found on the Company’s website: http://www.mcmining.co.za/our-
business/projects/gsp-mbeu-yashu
“The granting of the Generaal Project mining right is a further step in unlocking value from MC
Mining’s significant coking and thermal coal assets, positioning the GSP to be a potential long-term
coal supplier to industrial users both local and offshore, including the planned Musina-Makhado SEZ.
The long-term development of the three GSP project areas is complementary to our flagship Makhado
hard coking coal project, also in the Soutpansberg Coalfield. The Company has made significant
progress in advancing Makhado during the last 12 months and anticipates completing the Phase 1
capital raise process in the near-term in order to facilitate the commencement of construction in Q1
CY2020. The conclusion of domestic and export Makhado Phase 1 and Phase 2 off-take agreements
reflects the market appetite for hard coking coal and the significant potential of projects located in
this coalfield.”
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 +61 08 9316 9100
Services
Company advisors:
Jos Simson/ Gareth Tredway Financial PR Tavistock +44 20 7920 3150
(United Kingdom)
Ross Allister/David McKeown Nominated Adviser and Peel Hunt LLP +44 20 7418 8900
Broker
Charmane Russell/Olwen Auret Financial PR (South Africa) R&A Strategic +27 11 880 3924
Communications
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. MC
Mining’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 (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 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.
MC Mining has ensured that the mineral resources quoted are subject to good governance arrangements and internal
control. The Company has engaged external independent consultants to update the mineral resource in accordance with the
JORC Code 2012 and SAMREC 2016. The units of measure in this report are metric, with Tonnes (t) = 1,000kg. Technical
information that requires subsequent calculations to derive subtotals, totals and weighted averages may involve a degree of
rounding and consequently introduce an error. Where such errors occur MC Mining does not consider them to be material.
Date: 05/11/2019 09:00:00
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