MC Mining records loss amidst more controversy

MC Mining faces backlash over its Musina-Makhado SEZ involvement and a record $36M loss. Environmental groups slam the proposed ferrochrome smelter, citing critical flaws in impact assessments and illegal mining claims, which MC Mining denies.

Amidst continued opposition from environmental groups against the Musina-Makhado Special Economic Zone (MMSEZ), MC Mining released its audited financial statements on Monday for the year ending 30 June 2025. The mining company stands at the centre of the controversy, particularly regarding its relationship with the Kinetic Development Group (KDG).

According to MC Mining, the company made a loss of 36 million US dollars (USD) this year. During 2025, the average USD to rand exchange rate ...