Lower volumes and volatile coal prices hit MC Mining
The junior coal miner reported a $33.7m loss, a 67% improvement on the previous year, when it was hit by an $87.5m impairment at its mothballed Vele colliery
30 September 2019 - 10:49
Junior SA coal miner MC Mining, formerly known as Coal of Africa, said on Monday volatile international coal prices and reduced volumes at its Uitkomst colliery resulted in a 63% fall in cash generated from operations in its year to end-June.
MC Mining reported a $33.7m loss, a 67% improvement on the previous year, when it was hit by an $87.5m impairment at its mothballed Vele colliery...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.