MC Mining Ltd announced that its subsidiary, Baobab Mining & Exploration (Pty) Ltd and the vendor of the Lukin and Salaita properties, being the key surface rights for the Makhado hard coking coal project, agreed to extend the due date for payment of the balance owing of ZAR 35 million, to 28 February 2022. MC Mining has announced that the final instalment of ZAR 35 million has been paid by Baobab and the vendor held mortgages over the properties are in the process of being released.MC Mining’s interim CEO Mr Sam Randazzo said “Payment of the final instalment of ZAR 35 million and the release of security over key surface rights for the Makhado Project is a significant breakthrough for MC Mining. This, together with the funding provided by SGIH and the IDC’s commitment, has the company well placed and in the best position it.”
MC Mining Ltd announced that its subsidiary, Baobab Mining & Exploration (Pty) Ltd and the vendor of the Lukin and Salaita properties, being the key surface rights for the Makhado hard coking coal project, agreed to extend the due date for payment of the balance owing of ZAR 35 million, to 28 February 2022. MC Mining has announced that the final instalment of ZAR 35 million has been paid by Baobab and the vendor held mortgages over the properties are in the process of being released.MC Mining’s interim CEO Mr Sam Randazzo said “Payment of the final instalment of ZAR 35 million and the release of security over key surface rights for the Makhado Project is a significant breakthrough for MC Mining. This, together with the funding provided by SGIH and the IDC’s commitment, has the company well placed and in the best position it.”
