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2026-11-06
◂ Monitor MCM ASX

MC Mining Limited

Ramping Producer · Others · South Africa Rating locked: sign in to view v6.2
Last 2026-11-05
A$0.24
1D
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1M
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YTD
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1Y
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Upside
Locked: sign in to view
Mkt cap
A$202.8M
EV
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Cash
US$2.9M
Debt
—
3 newer ASX announcements not yet reflected in this valuation

Portfolio detail

Assets

4 assets

Core asset

Makhado hard coking and thermal coal project

South Africa

Ramping Producer67.3% ownedOthers

Production began 1 August 2026 per controlling shareholder; sustained commercial sales and ramp remain unverified.

Project location

Approximate location

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© OpenStreetMap contributors. Basemap imagery © Esri (Maxar, Earthstar Geographics). Dated overlays contain modified Copernicus Sentinel data. Visible surface changes do not establish production or completion.

Published study economicsIssuer or study metrics
NPVZAR 1.2B9% discount
IRR16%Published return
Initial capexZAR 2BPublished capital estimate
Operating cost105USD/saleable t

FY2025 reported plan; construction capex ZAR2.0bn; NPV not automatically current equity value.

Resources & reserves2
TypeCategoryQuantityGradeContained mineralsDate
Mineral Resourcemeasured indicated inferred706M tonnescoal tonnage; product grades vary by seamOthers2025-06-30
Ore Reserveproved probable296M tonnescoal tonnage; product grades vary by seamOthers2025-06-30
Tenements1
mak.makGranted— None · No expiry supplied
Milestones3
  1. Plant C3 commissioning

    Achieved · High materiality

  2. First production

    Achieved · High materiality

  3. Foundation-phase capacity ramp

    Pending · High materiality

Permits & approvals2
PermitJurisdictionStatusExpiryCritical path
Makhado mining rightSouth AfricaGranted—No
Integrated water-use licenceSouth AfricaGranted—No
Economic studies1
StudyStageStatusDateSummary
Makhado FY2025 implementation planUpdated FeasibilityCurrent2025-09-2928-year plan, 3.9Mtpa ROM, 9% post-tax NPV ZAR1.181bn; economics predate production start.

Material

Uitkomst Colliery

South Africa

Care And Maintenance84% ownedOthers

Mining and processing temporarily suspended from 1 March 2026 after losses; binding offer reported, with no accepted transaction.

Project location

Approximate location

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© OpenStreetMap contributors. Basemap imagery © Esri (Maxar, Earthstar Geographics). Dated overlays contain modified Copernicus Sentinel data. Visible surface changes do not establish production or completion.

Resources & reserves1
TypeCategoryQuantityGradeContained mineralsDate
Mineral Resourcemeasured indicated inferred— tonnescoal tonnage; product grades vary by seamOthers2025-06-30
Tenements1
uit.mineGranted— None · No expiry supplied
Milestones1
  1. Operating suspension

    Achieved · High materiality

Material

Vele Aluwani Colliery

South Africa

Care And Maintenance100% ownedOthers

Suspended while management tests a re-engineered plan and coal logistics.

Project location

Approximate location

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© OpenStreetMap contributors. Basemap imagery © Esri (Maxar, Earthstar Geographics). Dated overlays contain modified Copernicus Sentinel data. Visible surface changes do not establish production or completion.

Resources & reserves1
TypeCategoryQuantityGradeContained mineralsDate
Mineral Resourcemeasured indicated inferred— tonnescoal tonnage; product grades vary by seamOthers2025-06-30
Tenements1
vele.overvlakteGranted— None · No expiry supplied

Material

Greater Soutpansberg Projects

South Africa

Resource Stage74% ownedOthers

Granted mining rights at Chapudi, Mopane and Generaal; studies and land access still required.

Project location

Approximate location

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© OpenStreetMap contributors. Basemap imagery © Esri (Maxar, Earthstar Geographics). Dated overlays contain modified Copernicus Sentinel data. Visible surface changes do not establish production or completion.

Resources & reserves1
TypeCategoryQuantityGradeContained mineralsDate
Mineral Resourcepredominantly inferred7B tonnescoal tonnage; product grades vary by seamOthers2025-06-30
Tenements3
gsp.chapudiGranted— None · No expiry supplied
gsp.mopaneGranted— None · No expiry supplied
gsp.generaalGranted— None · No expiry supplied