18th May 2020 15:04
(Alliance News) - Coal producer MC Mining Ltd on Monday noted the South African government in late April announcing that its lockdown restrictions would be lowered to level four from five with effect on May 1.
As a result, the company's Uitkomst metallurgical and thermal coal mine have restarted operations albeit with certain limitations, namely the utilisation of 50% of the mine's labour capacity and adherence to health and safety protocols.
The Uitkomst colliery has ramped-up production to the stipulated 50% labour capacity level since restarting operations.
However, activities at Makhado, Vele and Greater Soutpansberg projects will remain closed until the government eases restrictions further.
"I am very pleased with the smooth ramp-up to the 50% labour capacity level at the Uitkomst colliery and the continuing strong demand for its products from existing customers. I also acknowledge the continued support of our existing financiers and am looking forward to finalising negotiations in the short term," said Chief Executive Officer Brenda Berlin.
Shares in MC Mining were down 3.0% at 9.70 pence on Monday in London, its Johannesburg shares were also 3.0% lower at ZAR1.97.
By Dayo Laniyan; [email protected]
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