Mc Mining Share News (MCM)

MC Mining advises no action on intended takeover offer by shareholders

(Alliance News) - MC Mining Ltd on Thursday said it received a letter from two companies that together own a majority stake intending to buy it, advising its shareholders to take no action.

MC Mining coal output up in first quarter despite lower prices

(Alliance News) - MC Mining Ltd on Tuesday reported an increase in coal production in the first quarter, even though prices continued to plunge.

MC Mining annual loss narrows, seeks more funding for Makhado project

(Alliance News) - MC Mining Ltd said on Thursday its annual loss shrank as the coal producer explored several ways to raise additional funding for its flagship Makhado coking coal project in Limpopo.

MC Mining coal production down in fourth-quarter on geological upset

(Alliance News) - MC Mining Ltd on Monday reported lower coal production due to geological setbacks and the electricity crisis in South Africa.

MC Mining shares rally as Makhado fund raising nears completion

MC Mining Ltd said on Tuesday it expects to conclude fund raising for its flagship Makhado coking coal project in Limpopo, South Africa in the second half of this year.

IN BRIEF: MC Mining upgrades mine life, reserves as Makhado progresses

MC Mining Ltd - Western Australia-based coal miner - Says it is making "steady progress" with "critical" early works activities at its flagship Makhado coking coal project in Limpopo. Revises Makhado life of mine up significantly by over 27%, with higher annual mine production rate up around 25%. Says these results demonstrate robust project financial returns, while using conservative cost, macro-economic and coal price assumptions.

IN BRIEF: MC Mining coal production down at Uitkomst mine

MC Mining Ltd - Western Australia-based, South Africa-focused coal miner - Produces 101,616 tonnes of coal in the quarter that ended March 31 at Uitkomst metallurgical and thermal coal mine in South Africa, down from 124,144 tonnes a year earlier. Says production was affected by challenging geological conditions, floods in the area, as well as national electricity blackouts that regularly interrupted operations at the colliery. Notes health and safety "remains a priority and we continue to make progress" despite one lost-time injury recorded during the quarter, down from two in the previous quarter. Uitkomst quarterly sales up to 78,032 tonnes from 71,361 tonnes a year earlier, comprising 23,326 tonnes of high grade domestic coal sales, down from 62,571 tonnes; 2,801 tonnes of lower grade middlings coal from 8,610 tonnes; and coal exports of 51,905 tonnes from nothing a year earlier. Managing Director and Chief Executive Officer Godfrey Gomwe says: "The Uitkomst colliery was impacted by the increased incidents of electricity blackouts implemented by Eskom, the state power utility, as well as flooding in KwaZulu-Natal during February 2023. The decline in international thermal coal prices experienced in the period has resulted in the company assessing various alternative marketing strategies."

MC Mining shares rally amid plans to start construction of new plant

(Alliance News) - MC Mining Ltd said on Wednesday it expects the construction of its new Makhado coal plant to start in the second half this year and indicated that this mine will be operated by a mining contractor.

MC Mining explores funding options for Makhado as interim loss shrinks

(Alliance News) - MC Mining Ltd on Wednesday said it is exploring a number of alternatives to raise additional funding for its flagship Makhado coking coal project in Limpopo.

IN BRIEF: MC Mining coal production down 7% in second quarter

MC Mining Ltd - Western Australia-based coal miner with projects in South Africa - Says run-of-mine coal production at the Uitkomst metallurgical and thermal coal mine was 7% lower at 99,336 tonnes for the second quarter to December 31 from 107,188 tonnes in the same quarter a year earlier. Says production was adversely affected by geological conditions, as well as South Africa's electricity blackouts, which interrupted underground mining operations. But the company records 56,817 tonnes of coal sales during the quarter, up from 49,063 tonnes.

AIM WINNERS & LOSERS: MS International surges on new contract win

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Friday.

MC Mining outsources Vele colliery to Hlalethembeni until 2027

(Alliance News) - MC Mining Ltd on Friday said it has signed an agreement to outsource its Vele colliery to Hlalethembeni Outsourcing Services Pty Ltd HOS.

TRADING UPDATES: Egdon to buy Aurora Production UK; Mila finds gold

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:

MC Mining says has received IDC extension to Makhado loan repayment

(Alliance News) - MC Mining Ltd on Thursday said that the Industrial Development Corporation of South Africa Ltd has extended the date for repayment of its loan for the development of the Makhado licence, its premier hard coking project.

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