MC Mining Reports Wider Loss as Makhado Project Advances

MC Mining Limited (ASX: MCM) announced that at the time of writing it recorded a net loss after tax of AU$36 million for FY2025, compared with a AU$14.6 million loss in FY2024. The result was driven by impairments of AU$24.3 million, lower coal sales, and reduced revenues, which fell 52% to AU$17.5 million. Production costs rose 44% to AU$92/t due to lower volumes, while administrative expenses were cut by 55% to AU$6.9 million.

The company’s flagship Makhado Project reached key milestones and remains on track for first coal in Q1 2026. Cash at year-end improved to AU$7.4 million, supported by staged funding from Kinetic Development Group, which is set to acquire a 51% controlling stake. A turnaround plan at Uitkomst Colliery aims to improve efficiency, while MC Mining continues to progress exploration across its Soutpansberg coalfield projects.

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