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MC Mining floats Vele sale after writedown

MC Mining (SJ:MCZ) looks set to bail on the Vele colliery after writing it down by US$87.5 million and pushing back its restart date to 2021.

MC Mining floats Vele sale after writedown MC Mining floats Vele sale after writedown MC Mining floats Vele sale after writedown MC Mining floats Vele sale after writedown MC Mining floats Vele sale after writedown

The old me: Vele in its production days

The South Africa coal miner has cash flow from the Uitkomst colliery, bought last year, while it develops the Makhado thermal and metallurgical coal project.