MC Mining Limited
MCM.AX
Australian Securities Exchange0.27
AUD
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MC Mining Limited
MCM.AX
(Australian Securities Exchange)
Recent
price
0.27
P/E
ratio
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div
yld
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ROIC.AI
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in mil. unless spec.- Similar Companies
- Business
- MC Mining Limited MC Mining Limited (MCM.AX) is an Australia-based coal exploration, development and production company focused primarily on high-quality coking, semi-soft and thermal coal assets in South Africa's Limpopo province; its operations span underground bord-and-pillar mining at the Uitkomst Colliery in KwaZulu-Natal, which produces sought-after thermal and metallurgical coal with an average run-of-mine output of 50,000 tonnes per month and saleable production of 34,000 tonnes per month over a 28-year life of mine; the flagship Makhado project targeting hard coking and thermal coal; the Vele Colliery (also known as Vele Aluwani Colliery) for semi-soft and thermal coal, currently on care and maintenance pending regulatory approvals and improved coal prices; and the Greater Soutpansberg projects including MbeuYashu for additional coking and thermal coal resources. Incorporated in 1979 and headquartered in Melbourne, Australia, the company, formerly known as Coal of Africa Limited until its name change in November 2017, lists on the ASX and JSE and shifted strategic emphasis to operational mining following its 2017 acquisition of the Uitkomst Colliery; it maintains good access to rail and port infrastructure to serve domestic and export markets, while prioritizing environmental compliance, community coexistence models balancing mining with agriculture and heritage preservation, and stakeholder partnerships for sustainable growth. In August 2024, Hong Kong-listed Kinetic Development Group agreed to invest US$90 million for a 51% stake in two tranches—initially US$12.97 million for 13.04% by early September 2024, followed by US$77.03 million—subject to shareholder and regulatory approvals, to fund advancement of the Makhado project into production, accelerate development across Vhembe district tenements including Vele and Greater Soutpansberg, and diversify Kinetic's portfolio into steelmaking coal with operations across high-growth regions.