The Industrial Development Corporation of South Africa’s (IDC’s) credit committee has approved a R245-million loan facility for ASX-, Aim- and JSE-listed MC Mining for the construction of Phase 1 of its Makhado hard coking coal project, in South Africa’s Limpopo province. The term loan reaffirms the economics of the Makhado project and follows the conclusion of offtake agreements for the coal to be produced by Phase 1, MC said on Monday.
