MC Mining said on Friday coal production at its Uitkomst mine rose by double digits in the three months to end-March, despite slightly fewer days of production due to the start of SA’s lockdown.
Coal production rose 12% to 127,122 tonnes in the quarter, with the lockdown reducing this number by 8,000 tonnes.
MC Mining relies on the Uitkomst mine for cash generation, but its priority is its flagship Makhado project, which will produce coking coal and thermal coal once production begins.
In the company’s year to end-June 2019, Uitkomst transitioned to an owner-operated colliery after the transfer of underground mining contractor Khethekile Mining’s 340 staff and equipment to MC Mining.
The company said in 2018 that it had spent R65m on acquiring the equipment to solve issues regarding the availability of the contractor’s equipment.
“Uitkomst continued to generate pleasing results with coal prices trending higher than the first half of the current financial year,” said CEO Brenda Berlin.
The group said the average price for premium hard coking coal had risen 8% when compared with the quarter to end-December.
MC Mining reports production grew ahead of lockdown
Image: SOWETAN
MC Mining said on Friday coal production at its Uitkomst mine rose by double digits in the three months to end-March, despite slightly fewer days of production due to the start of SA’s lockdown.
Coal production rose 12% to 127,122 tonnes in the quarter, with the lockdown reducing this number by 8,000 tonnes.
MC Mining relies on the Uitkomst mine for cash generation, but its priority is its flagship Makhado project, which will produce coking coal and thermal coal once production begins.
In the company’s year to end-June 2019, Uitkomst transitioned to an owner-operated colliery after the transfer of underground mining contractor Khethekile Mining’s 340 staff and equipment to MC Mining.
The company said in 2018 that it had spent R65m on acquiring the equipment to solve issues regarding the availability of the contractor’s equipment.
“Uitkomst continued to generate pleasing results with coal prices trending higher than the first half of the current financial year,” said CEO Brenda Berlin.
The group said the average price for premium hard coking coal had risen 8% when compared with the quarter to end-December.
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