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MC Mining - quarterly activities report
Highlights
•Health and safety performance improvement across the group remains a top priority, with the Company having operated with one lost time injury for the quarter. The Makhado steelmaking hard coking coal Project had one LTI for the quarter, whilst Uitkomst Colliery had no LTIs for the quarter;
•Key milestones achieved on the development of the Makhado Project
•The board of directors approved the temporary suspension of mining and processing operations at Uitkomst Colliery, with an effective date of 1 March 2026. During this period, the Company is evaluating strategic options aimed at unlocking value and preserving future optionality. These evaluations may include engagement with interested third parties regarding potential partnerships, joint operations or other strategic arrangements in respect of Uitkomst. No decisions have been taken, and any transaction would be subject to customary approvals. In addition, the Company continues to review its asset base with a view to disposing of redundant or non-core items where appropriate
•Comprehensive evaluations of geological and mine planning information relating to the Company's Vele Aluwani semi-soft coking coal and thermal coal Colliery are still ongoing; and
•TC prices continued with average prices of USD99/t for the three months, compared to USD86/t in Q2 FY2026 and USD96/t in Q3 of FY2025. Premium steelmaking HCC prices have increased, averaging USD231/t in the quarter compared to USD186/t in FY2025 Q3.
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