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MC Mining Limited Makhado EA Appeal Dismissed

17/04/2019 7:00am

UK Regulatory (RNS & others)


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RNS Number : 3945W

MC Mining Limited

17 April 2019

ANNOUNCEMENT

17 April 2019

DISMISSAL OF APPEALS AGAINST MAKHADO PROJECT ENVIRONMENTAL AUTHORISATION AMENDMENTS

MC Mining Limited ("MC Mining" or the "Company") is pleased to announce further progress at its Makhado hard coking and thermal coal project ("Makhado Project" or "Makhado"), owned by subsidiary Baobab Mining & Exploration (Pty) Ltd ("Baobab").

Baobab 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 Environmental Authorisation ("EA"). The amendment allows for the transportation of coal to Musina by road rather than rail and was approved by the DMR and LEDET during September 2018. Following this, the same narrow interest group that had previously and unsuccessfully appealed the original Makhado EA, appealed the DMR and LEDET decisions resulting in the suspension of the EA amendment authorisations.

The Company is pleased to announce that both appeals have been dismissed. This results in the EA amendment being effective and reaffirms the Makhado Project's permitted status.

David Brown, CEO commented:

"This dismissal of the appeals by the South African government reinforces the robustness of Baobab's permitting processes despite continued attempts by narrow interest groups to halt the project's progress. The recently announced phased development of Makhado includes the utilisation of the existing, modified Vele processing plant as well as road and rail infrastructure previously tested. The Company anticipates that funding dependent, construction of Makhado Phase 1 should commence in Q3 CY2019, contributing significantly to the socio-economic development in the area and generating positive returns for shareholders in the near-term."

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: 
                                      Financial PR 
 Jos Simson/ Gareth Tredway            (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).

Regulatory

This announcement is inside information for the purposes of Article 7 of Regulation 596/2014.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

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April 17, 2019 02:00 ET (06:00 GMT)

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