MC Mining signs offtake agreement with ArcelorMittal

MC Mining (LON:MCM) has completed an offtake agreement with ArcelorMittal South Africa which will use the Makhado mine as its domestic supplier for steel as until now, it had to import the vast majority of its coking coal needs.

Initially, ArcelorMittal commits to purchase 350,000 tonnes of hard coking coal per year for a period of 10 years, but also has the right to purchase an additional…

MC Mining signs offtake agreement for its coal

MC Mining (LSE:MCM) (the new name of Coal of Africa) has announced it has signed a sale and purchase agreement for the coal that will be produced at its Makhado coal project in South Africa. The first phase of the mine is expected to yield 3 million tonnes of recovered coal, which should result in about 2 million tonnes of ROM coal to be sold, after undergoing initial processing. This will be…