MC Mining progresses Makhado project despite Uitkomst production dip

MC Mining (JSE:MCZ) reported progress in the development of its Makhado steelmaking coal project, achieving key milestones toward commissioning by December 2025, including the commencement of CHPP construction and erection of over 14km of power lines. The Makhado project also maintained a strong safety record, achieving 727 days LTI-free. However, the Uitkomst Colliery saw a 13% year-on-year decrease in ROM coal production to 101,101 tonnes, attributed to lower coal seam widths and mining fleet availability, as well as four LTIs during the quarter. Uitkomst's coal preparation plant yields improved significantly, however, from 60% to 73%. The company sold 56,320t of high-grade coal. Depressed TC prices persisted, with average prices at US$96/t. Available cash and facilities stood at US$9 million at the end of the quarter.