Kinetic Development Group Limited (1277) has announced the completion of the Sixth Tranche of the Second Closing for its subscription in MC Mining, bringing the total shares subscribed to 325.44 million new ordinary shares. With this latest allotment, Kinetic Development now holds 44.01% of MC Mining’s enlarged issued share capital. The Board reiterates the strategic goal of ultimately raising its stake to 51.00% on a fully diluted basis, subject to various conditions being met.
The Makhado Project, with total mineral rights resources of 706 million tonnes out of MC Mining’s overall 8.30 billion tonnes, is progressing steadily in its development phase. Construction is slated for completion by the end of March 2026, followed by joint trial operations in April 2026. According to current design capacity, the operation is expected to yield 800,000 tonnes of coking coal and 700,000 tonnes of thermal coal annually, with future expansion plans aiming to lift production to as much as 2.20 million tonnes of coking coal and 1.80 million tonnes of thermal coal in subsequent phases.
Complementing the mining operations, key project infrastructure—including overburden stripping, a Coal Handling and Preparation Plant, power supply systems, and transportation networks—continues to advance. Latest updates indicate that 5.04 million cubic meters of overburden stripping has been completed, and supporting facilities such as the bridge and the 22kV main power line have largely been installed. The pricing mechanism for Makhado’s coking coal is expected to reference international spot market indices, with product negotiations ongoing among more than 20 potential global customers.
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