MC Mining’s steel making coal strategy enters new growth phase through re-imagined Uitkomst Colliery

MC Mining Limited
Previously Coal of Africa Limited
(Incorporated and registered in
Australia)
Registration number ABN 008 905 388
ISIN AU000000MCM9
JSE share code: MCZ
ASX/AIM code: MCM



ANNOUNCEMENT                                                                              

15 July 2025

MC MINING'S STEEL MAKING COAL STRATEGY ENTERS NEW GROWTH PHASE THROUGH RE-IMAGINED UITKOMST COLLIERY
 

 MC Mining Limited (MC Mining or the Company) is pleased to announce that its subsidiary, Uitkomst
 Colliery Proprietary Limited (Uitkomst Colliery) has commenced with the implementation of a revised
 business plan (the Turnaround Plan) which sees significant operational changes that position the
 colliery for a future growth phase.

 Uitkomst Colliery, located in the Kwazulu-Natal Province of South Africa, is an integral part of MC
 Mining's strategy of supporting South Africa's Steel Master Plan, whilst itself, becoming a significant
 regional supplier of steelmaking coal products. Uitkomst produces, for the steel industry, pulverized
 coal injection (PCI) and for the South African manufacturing industry, specialized, high quality-sized
 coal products, both of which reduce input costs and provide the domestic steel industry with much
 needed import substitution.

 MC Mining's flagship project, the Makhado steelmaking hard coking coal Project (Makhado Project),
 located in the Limpopo Province of South Africa, and due for commissioning in December 2025, stands
 to be the largest, hard coking coal (HCC) producer in the country, where the steel industry currently
 imports it's HCC needs.

 Following an extensive due diligence period, consultations with organized labour, service providers
 and regulators, the Turnaround Plan is being implemented with the assistance of Metalla Tutum
 Engineering Proprietary Limited (MTE). MTE is a South African specialist mining consultancy and
 engineering company, established in 2017, with expertise in mine management and operational
 improvements.

 Key focus areas of the Turnaround plan are to:

     • reconfigure underground mining layouts to streamline operational efficiencies and resource
         deployment;
     • implement coal handling and processing plant modifications to improve coal product yields;
     • reduce workforce numbers from 430 to 366, with minimal forced retrenchments; and
     • enter into longer-term coal offtake agreements to stabilize price certainty.

These changes should see Uitkomst:

   • improve on the operations safety and health performance;
   • reduce unit costs of saleable coal production to respond to the current low coal price
       environment; and
   • reduce the volatility in earnings.

Mr Mathews Senosi, the Interim Chairman said:

"The inclusion of a seasoned mining contractor in MTE as turnaround advisors, to help drive forward
the group's growth strategy, presents a compelling opportunity for MC Mining to secure a sustainable
future for Uitkomst Colliery, whilst allowing us to focus the group's limited resources to bring Makhado
to account this calendar year. We look forward to implementing this transformative collaboration."




This announcement has been approved by the Company's Board of Directors.

 For more information contact:

 Bill Pavlovski       Company          Vision Corporate                  bill.pavlovski@mcmining.co.za
                      Secretary        (Pty) Ltd                         
 
 Company advisers:
                      Australian Legal K&L Gates                         +61 2 9513 2510
                      Advisor

                        Financial PR       R&A Strategic                 +27 11 880 3924
                        (South Africa)     Communications

                        JSE Sponsor        BSM Sponsors                  + 27 11 038 4150
                                           Proprietary Limited


About MC Mining Limited:

MC Mining is an ASX/JSE-listed coal exploration, development and mining company operating in South
Africa. MC Mining's key projects include the Uitkomst Colliery (metallurgical and thermal coal),
Makhado Project (hard coking coal), Vele Colliery (semi-soft coking and thermal coal), and the Greater
Soutpansberg Projects (coking and thermal coal).

Date: 15-07-2025 10:00:00
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