Junior coal miner MC Mining said its flagship Makhado coal project is progressing and is looking to complete the tender process for the selection of the mining, operating and maintenance contractors in the first quarter of 2024. The company is assessing the various scenarios for the Makhado Project to facilitate an accelerated start of coal production in the second half as well, adding it will update the market in due course. Valued at about R740 million on the JSE, MC Mining owns 70% of the Uitkomst colliery, which produces metallurgical coal. But much of its focus is on its flagship Makhado project in Limpopo, which will produce coking coal and thermal coal for export and domestic use. Shares of Kibo, which is valued at about R29 million, had doubled in early trade, but this is not an unusual move for it.

Source: News 24 December 22, 2023 17:16 UTC