MCC Mining Reports Strong Production
MCC Mining Ltd has reported solid third quarter production and sales amid a fall in production costs. In the quarter to end-June, Uitkomst run-of-mine production soared to 127,927 tonnes from 41,536 tonnes a year ago, while metallurgical & thermal coal sales were up sharply to 84,834 tonnes from 16,707 tonnes. Uitkomst is located in KwaZulu-Natal. These results were off of a low base due to the South African government-imposed Covid-19 lockdown for a large part of the comparative period, the company noted.
Revenue per tonne increased 47% to USD 84.91 per tonne from USD 57.88 per tonne a quarter prior.
Average API4 coal prices were 91% higher at USD 105 per tonne from USD 55 per tonne a year ago, thanks to increased global demand.