Highlights

  • Makhado demonstrated coal washing and hard coking coal production during its September 2026 quarter.
  • The plant demonstrated washing capacity of around 7,600 tonnes a day during commissioning.
  • MC Mining reported delivery of 4,846 tonnes of hard coking coal to Matola Port.
  • The company secured agreements for up to USD 16 million of Capital support from Kinetic Development Group.

MC Mining Limited (ASX:MCM) moved its Makhado hard coking coal project through hot commissioning during the September 2026 quarter, testing not only the processing plant but the route from mine to export terminal. The company reported that 4,846 tonnes of hard coking coal were delivered to Matola Port during the period.

First Port Deliveries Mark a Practical Test

The development in South Africa’s Limpopo province remained in operational ramp-up at quarter end, rather than stable nameplate production. This distinction is important: successful coal washing and port logistics demonstrate progress, while sustained commercial operation requires further performance testing.

Processing Plant Demonstrates Coal Output

Makhado’s coal handling and preparation plant demonstrated a washing capacity of approximately 7,600 tonnes per day during commissioning. It also produced hard coking coal at around 10% ash, alongside thermal coal. The plant was still undergoing optimisation and handover work as the quarter ended.

The 14-kilometre, 22-kilovolt Paradise overhead power line was commissioned, while the eastern wellfield system supplied process water. Two certified 80-tonne weighbridges were operational, supporting the tested coal logistics chain.

Funding Conditions Shape the Ramp-Up

In August, MC Mining entered into agreements with Kinetic Development Group for up to USD 16 million of capital support, involving a bridge Loan and a share subscription arrangement. The subscription comprised two proposed tranches, with the second dependent on the project having commenced production.

The 30 October report said available cash and facilities totalled USD 170,000 at 30 September. Subsequent to the quarter, agreements for approximately 46,000 tonnes of finished product were announced, while operations were temporarily suspended pending final funding arrangements. These conditions are material alongside the progress in commissioning.

Outlook: Complete Testing and Secure Sustainable Sales

MC Mining’s stated priorities are to finalise funding, complete C4 commissioning and performance testing, finish remaining infrastructure work and optimise mining and plant recovery. The foundation phase is designed for approximately 800,000 tonnes annually of hard coking coal at steady state, which is not yet an achieved output level.

The company also maintains Uitkomst, Vele and Greater Soutpansberg interests, but Makhado remains the principal reported commissioning programme. The next critical distinction is between completed tests and reliable, funded commercial operation.

MC Mining shares were quoted at AUD 0.24 on 6 November 2026, with a reported daily change of 0.00%. No shares traded during the session. The reported Market Capitalisation was approximately AUD 202.78 million.