The South African DMRE Grants a Mining Right to MC Mining
The SA Department of Mineral Resources & Energy (DMRE), granted the mining right for 74% of MC Mining’s owned Generaal coking & thermal coal project, situated in Limpopo.
A mining right was granted to the Generaal Project as the next step to unlocking more value from the MC Mining’s crucial coking and thermal coal assets, both of which helped position the GSP, sustaining it into the future. The goal is to sustain it as a long-term coal supplier, particularly to industrial users, both of which are local and abroad, including the planned project, Musina-Makhado Special Economic Zone or SEZ.
The government has declared the given area as a SEZ, with the purpose to stimulate the growth of energy and metallurgical industries.
A Substantial Amount of In Situ Inferred Coal Resources
The Generaal Project owns more than 407 million tons of in situ inferred coal resources.
This project is useful to the industry, as the development of metallurgical resources, for either premium or thermal coal exports, has the potential to help sustain the steel manufacturing industry in South Africa.
Thus far, in the past 12 months, MC Mining has already advanced its Makhado metallurgical and thermal coal project, which is sure to aid in growth for the future.
At the moment, sustainability and growth are both two key factors that require stellar focus, particularly for the mining industry, which seems to be one of the biggest industries affected by the country’s poor economy.
To fund the first phase of Makhado, a capital-raising program is set in place and is to be completed during the next term, which will allow for the construction of the project to commence during the first quarter of 2020.
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