MCM.L

MC Mining Ltd.
MC Mining Limited - Directorate Change
25th April 2024, 13:00
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RNS Number : 0814M
MC Mining Limited
25 April 2024
 

ANNOUNCEMENT                                                                                                                          25 April 2024

 

RESIGNATION OF INDEPENDENT NON-EXECUTIVE CHAIRMAN

 

MC Mining Limited (MC Mining or the Company) announces that Mr Nhlanhla Nene will step down as Director and Chairman of the Board, effective today, 25 April 2024. Mr Nene joined the Company on 11 April 2022, initially serving as a Non-Executive Director and then as Chairman from 28 April 2022.

 

At the time of his appointment, MC Mining was facing challenging operating and funding conditions following the COVID-19 pandemic. The Company subsequently completed a fully underwritten rights issue in November 2022, facilitating the revitalization of the Makhado steelmaking hard coking coal project and a revision of its development strategy, significantly enhancing the value of the project for all stakeholders.

 

Managing Director and Chief Executive Officer, Godfrey Gomwe,  said: "MC Mining and the board express their sincere appreciation to Mr Nene for his role in advancing the Company and its steelmaking coal assets. MC Mining is now on a more stable footing with clear development plans for its large coal resource base and we wish him every success in his future endeavors."  

 

This announcement has been approved by the Company's Disclosure Committee.

 

For more information contact:

Tony Bevan

Company Secretary

Endeavour Corporate Services

+61 42 1072 165

 

Company advisers:




 

Richard Johnson / Rob Patrick

Nominated Adviser

Strand Hanson Limited

       

+44 20 7409 3494

 

Rory Scott

Broker (AIM)

Tennyson Securities

+44 20 7186 9031

 

Marion Brower

Financial PR (South Africa)  

R&A Strategic Communications

+27 11 880 3924

 

BSM Sponsors Proprietary Limited is the nominated JSE Sponsor






About MC Mining Limited:

MC Mining is an AIM/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).

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