Modern Mining November 2019

Mining right received for Generaal coal project “The granting of the Generaal project mining right is a further step in unlocking value from MC Mining’s significant cok- ing and thermal coal assets, positioning the GSP to be a potential long-term coal supplier to industrial users both local and offshore, including the planned Musina- Makhado SEZ,” David Brown, MC Mining’s Chief Executive Officer, commented.

Graphite mine sets new monthly record

MC Mining reports that the South African Department of Mineral Resources (DMR) has granted a mining right for its 74 %-owned Generaal coking and thermal coal project in Limpopo Province. The Generaal project, together with the Chapudi and Mopane projects, com- prise the company’s longer-term Greater Soutpansberg Project (GSP) in the Soutpansberg coalfield. The company submitted mining right applications for the three GSP project areas to the DMR during 2013 and follow- ing the Chapudi project mining right in December 2018, the Generaal project min- ing right is the second of the applications to be granted. The Generaal project contains over 407 million gross tonnes in situ of inferred coal resources and supports MC Mining’s strat- egy of being South Africa’s pre-eminent producer of hard coking coal, used in the steel manufacturing process and attracting significantly higher sales prices compared to thermal coal.

ASX-listed Bass Metals reports that it ‘shipped’ 809 tonnes of graphite concen- trate from its 100 %-owned Graphmada mine complex located in eastern Madagascar in October this year. This represents a new monthly record. Currently, Bass has a fur- ther 560 tonnes of forward sales committed to be shipped by the end of the December quarter. Bass says it continues to receive a strong level of interest for its concentrates and is approaching a status of having all current stock contracted for sale, leaving the com- pany well placed for this quarter and the next. Having qualified its concentrates for sale into the key markets of Europe, India, the USA and now China, Bass is currently work- ing on placing concentrates into the Korean and Japanese markets, further broadening its customer base with a view to its strategic plans for large scale mining and processing operations. 

“The long-term development of the three GSP project areas is complemen- tary to our flagship Makhado hard coking coal project, also in the Soutpansberg coalfield. The company has made sig- nificant progress in advancing Makhado during the last 12 months and anticipates completing the Phase 1 capital raise pro- cess in the near-term in order to facilitate the commencement of construction in Q1-CY2020. The conclusion of domestic and export Makhado Phase 1 and Phase 2 off-take agreements reflects the market appetite for hard coking coal and the significant potential of projects located in this coalfield.” 

November 2019  MODERN MINING  11