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MC Mining secures A$1m loan facility

25th July 2024

By: Tasneem Bulbulia

Deputy Editor Online

     

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Coal miner MC Mining has entered into a A$1-million ($700 000) loan facility with Eagle Canyon International Group Holding (ECIGH).

ECIGH is controlled by MC Mining interim MD and CEO Christine He.

The facility is available until June 30, 2025, and is unsecured. The funds will be used for general working capital.

Interim chairperson Mathews Senosi says it is a further positive step in stabilising the company’s liquidity position.

“In addition, it reflects the continued shareholder commitment to support MC Mining. The group’s operational and overhead costs are being assessed to ensure MC Mining has the appropriate resources to develop our shovel-ready, flagship Makhado steelmaking hard coking coal project,” he highlights. 

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

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