Hard coking coal and thermal coal producer MC Mining, which was successful in securing the Industrial Development Corporation credit-approved facility of $17-million in July, is looking to raise $52-million to fund the first phase of the Makhado hard coking coal project as well as repay the current IDC loan. Alternative funding mechanisms are being pursued for Makhado’s overwhelmingly derisked first phase, which has firm offtake agreements in place and prompt payback in sight. (Also watch attached Creamer Media video.)
