MC Mining (ASX:MCM) secures rights in South Africa

Company News

by Katrina Bullock

MC Mining (ASX:MCM) has been awarded a mining right for its 74 per cent owned Generaal coking and thermal coal project in the Limpopo province from the South African Department of Mineral Resources.

The project is located within close proximity to the Musina-Makhado Special Economic Zone - an area designated by government to focus on advancing energy and metallurgical industries.

The Generaal Project contains over 407 million gross tonnes in situ of inferred coal resources and supports MC Mining’s strategy of being South Africa’s pre-eminent producer of hard coking coal, used in the steel manufacturing process.

Shares in MC Mining (ASX:MCM) last traded at 55 cents on 21 October 2019. 

Katrina Bullock

Finance News Network
Katrina joined FNN in October 2018 and also works as a lawyer for Greenpeace.