MC Mining Limited Interim Interdict Lifted (6375R)
June 18 2018 - 3:00AM
UK Regulatory
TIDMMCM
RNS Number : 6375R
MC Mining Limited
18 June 2018
ANNOUNCEMENT 18 JUNE 2018
INTERIM INTERDICT LIFTED
MC Mining Limited ("MC Mining" or the "Company") is pleased to
announce a successful High Court of South Africa judgement,
discharging an interim interdict originally granted in December
2014 (the "Interim Interdict"). The favourable June 2018 judgement
(the "Judgement") pertains to a matter between the Vhembe Mineral
Stakeholders Forum (and others) (together the "Applicants") and the
Limpopo Department of Economic Development, Environment and Tourism
together with the Company. The Judgement rescinds the Interim
Interdict against the Company's Environmental Authorisation ("EA")
for the Makhado hard coking and thermal coal project ("Makhado
Project" or "Makhado").
The Interim Interdict was originally issued against the Company
in an attempt to prevent MC Mining from undertaking activities
pertaining to the Makhado Project's construction and mining. During
July 2016, the EA was transferred to MC Mining's subsidiary, Baobab
Mining & Exploration (Pty) Ltd ("Baobab"), the owner and
developer of the Makhado Project. This transfer was completed in
compliance with the National Environmental Management Act (107 of
1998) and, as previously announced, the Company did not anticipate
the Interim Interdict delaying the development of the project.
The Company has undertaken various initiatives to address the
Interim Interdict and the Judgement granted two orders, namely:
1. discharging the Interim Interdict against the Company,
including an award against the Applicants for appropriate costs,
including those of two legal counsel; and
2. dismissal of a further application by the Applicant to extend
the Interim Interdict to Baobab. Again, this dismissal included a
costs award against the Applicants.
David Brown, MC Mining's Chief Executive Officer commented:
"The favourable High Court Judgement reaffirms the Company's
approach in the development of Makhado, endorses government's
support for the project and is a significant victory for the mining
industry. The Applicants are a narrow interest group and despite
numerous interactions to address concerns, they have utilised
unreasonable litigation approaches in an attempt to halt Makhado,
together with the associated socio-economic transformation of local
communities. The High Court echoed this sentiment in the
Judgement."
"The Makhado Project has all the legal approvals required to
commence construction and the Judgement vindicates MC Mining's
strategy, confirming compliance with the required regulatory
requirements. Prior to the commencement of construction, the
Company requires access to two properties that form part of the
Makhado Project. These properties are subject to a legislated land
claims process by Makhado's host communities, who are also
shareholders in the Makhado Project. In parallel, however, the
Company will embark on a process of enforcing its access rights
under our mining right. Furthermore, good progress has been made on
the Makhado Project marketing and financing arrangements."
AUTHORISED BY:
David Brown
Chief Executive Officer
For more information contact:
David Brown Chief Executive Officer MC Mining Limited +27 10 003 8000
Brenda Berlin Chief Financial Officer MC Mining Limited +27 10 003 8000
Tony Bevan Company Secretary Endeavour Corporate Services +61 08 9316 9100
Company advisors:
Financial PR
Jos Simson/ Gareth Tredway (United Kingdom) Tavistock +44 20 7920 3150
Ross Allister/Richard
Crichton/James Bavister Nominated Adviser and Broker Peel Hunt LLP +44 20 7418 8900
Charmane Russell/Olwen Auret Financial PR (South Africa) R&A Strategic Communications +27 11 880 3924
Investec Bank Limited is the nominated JSE Sponsor
About MC Mining Limited:
MC Mining is an AIM/ASX/JSE listed coal exploration, development
and mining company operating in South Africa. MCM's key projects
include the Uitkomst Colliery (metallurgical coal), Makhado Project
(coking and thermal coal). Vele Colliery (coking and thermal coal),
and the Greater Soutpansberg Projects (MbeuYashu).
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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