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MC Mining - Kinetic subscription & board changes
MC Mining Ltd. ("MC Mining" or the "Company") has completed the final stage of its USD90 million share subscription agreement with Kinetic Development Group Ltd. ("KDG"), resulting in KDG holding 51.00% of the Company's shares on a fully diluted basis. This milestone confirms KDG as the controlling shareholder, with MC Mining becoming a non-wholly owned subsidiary. The funds have been used to advance the Makhado Project, which is now in advanced construction, and to support the Company’s growth as a significant metallurgical coal producer.
Additionally, KDG has exercised its rights to appoint new directors, leading to the appointment of Guo Xin and Mei Zhang as non-executive directors, and the resignation of Bill Pavlovski, who will remain as Company Secretary with effect from 5 May 2026.
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