Xolobeni mining update
It is well known by now that the minister of minerals & energy revoked the mining license, granted to MRC and their local subsidiary Xolco in 2008, at the beginning of the month.
However the door is still ajar and we await the outcome in 3 months time.
The applicants have until then to resubmit properly completed environmental impact assessments, a full environmental management plan, and to comply fully with the various requirements of affected government departments.
In the interim, MRC's (Mineral Resource Commodities - ASX:MRC) share price seems fairly stable and essentially unchanged, hovering around 8c, Australian. But will they risk the further expenditure?