MC Mining's Makhado Project shows strong progress as share price rises 15%

MC Mining’s share price shot up over 15% on Friday afternoon after it reported that the development of its Makhado Project is progressing strongly, with coal plant commissioning activities expected to start in December 2025.

- EDWARD WEST

The company stated in its first quarter activities report for the period ending September 30 that project expenditure remains within budgeted estimates, despite delays encountered due to inclement weather, sourcing suitable construction materials, and obtaining clearances to construct a 14km long power transmission line.

The share price of the coal mining and mine development company was trading 15.79% higher at R2.20 on the JSE on Friday afternoon, a price also well up from R1.65 a year ago. The colliery will be South Africa's largest hard coking coal (HCC) producer, designed to produce 800 000 tons a year once steady-state operation for the foundation phase is reached.