MC Mining Ltd on Wednesday reported strong output and robust sales at its local coal mine in the second quarter of its financial year, and said that it sought to speed up production at its flagship Makhado project.
The Western Australia-based coal miner in South Africa owns Uitkomst Colliery, an operating metallurgical and thermal coal mine, and Makhado project, an exploration and evaluation asset.
Coal production at the Uitkomst steelmaking and thermal coal mine rose 31% to 129,272 tonnes from the second quarter that ended December 31, from 99,336 tonnes a year earlier.
This colliery sold 102,266 tonnes of coal over the second quarter, up 80% from 56,817 tonnes.
MC Mining said it had made steady progress during the quarter on critical early works activities at the Makhado steelmaking hard coking coal project. It said it had advanced in the detailed design of the coal handling and processing plant and related infrastructure.
The company said it is assessing the various scenarios for the Makhado project to facilitate an accelerated start of coal production, subject to further funding.
The managed tender processes to select the mining contractor, as well as the operating and maintenance contractors for the Makhado plant and laboratory, continued during the quarter.
Shares in MC Mining were flat at R 1.60 on Wednesday in Johannesburg. In London, they were untraded, last quoted at 6.88 pence.
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