MC MINING LIMITED - Makhado Project Regulatory Progress

Release Date: 03/09/2018 14:10
Code(s): MCZ
 
Wrap Text
Makhado Project Regulatory Progress

 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                                            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      MC Mining Limited     +27 10 003 8000
                           Officer
Brenda Berlin              Chief Financial      MC Mining Limited     +27 10 003 8000
                           Officer
Tony Bevan                 Company Secretary    Endeavour Corporate   +61 08 9316
                                                Services              9100

Company advisors:
Jos Simson/ Gareth      Financial PR           Tavistock              +44 20 7920
Tredway                 (United Kingdom)                              3150
Ross Allister/David     Nominated Adviser      Peel Hunt LLP          +44 20 7418
McKeown/James Bavister and Broker                                     8900
Charmane Russell/Olwen Financial PR            R&A Strategic          +27 11 880 3924
Auret                   (South Africa)         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. 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.




                                                                                        

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