MC Mining reins in Uitkomst costs, sells new coal product
The group has lowered costs by tweaking mining operations at its Uitkomst colliery, and is introducing a new high-ash thermal coal product
MC Mining has noted a fall in coal sales prices in the quarter to March, along with the first sales of a new product from its Uitkomst colliery. Uitkomst is the sole operating asset in MC, which is forging ahead with a capital-light plan at its Makhado coking coal project. Uitkomst’s run-of-mine coal output, which is freshly mined coal, fell by 2% to 113,190 tons in the March quarter compared with the same period a year earlier as the company bedded down fresh working practices. MC sold 61,956 tons of metallurgical and high-quality thermal coal from Uitkomst, a 3% fall from the previous period. During the quarter, Uitkomst made its first sales of high-ash thermal coal middlings, selling 8,315 tons of the product. “These high-ash coal sales originate from plant modifications completed during the quarter, extracting saleable coal from the plant discard and increasing overall yield of the Uitkomst ROM (run-of-mine) coal,” MC said. MC sells the high-ash middlings coal to a coal trader w...
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