Makhado Project

Ownership MC Mining (69%), Makhado Colliery Community Development Trust (20%), Yoright Investments (6%), Industrial Development Corporation (5%)
Location Limpopo province, South Africa, north of Soutpansberg Mountains, 65km southwest of Musina, 80km southeast of Vele Project
Infrastructure Excellent existing rail (from Musina directly to Matola), road, power (Eskom) and port allocation (Matola Coal terminal)
Status Project development
Life of mine 45 years
Product 12.6Mtpa run of mine coal yielding 2.3Mtpa hard coking coal and 3.2Mtpa thermal coal for domestic or export markets
Resources 344.8Mt mineable tonnes in situ
Reserves 172.73Mt mineable tonnes in situ
Mining method Opencast
Regulatory status Full suite of authorisations
New order mining right Granted in May 2015 for 20 years
Environmental Authorisation Granted in August 2013, transferred to Baobab and validity period extended in July 2016

Amended in September 2018 by the DMR and LEDET to include product transport via rail for the Makhado Lite Project
Integrated Water Use Licence Granted in December 2015, valid 20 years

Resource and Reserve statement

Abridged summary of JORC-compliant resources and reserve statement 30 June 2016 JORC-compliant resources (measured, indicated and inferred)1
  Gross tonnes in situ (Mt) Gross tonnes in situ (Mt) Mineable tonnes in situ (Mt)
Makhado Project 795.6 691.6 344.7

1. Resources are stated inclusive of reserves; the resource, defined in accordance with the 2004 JORC Code, has not been updated since to comply with the 2012 JORC Code on the basis that the information has not materially changed since it was last reported.

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