MC Mining Secures Yi He as CEO to Drive Makhado Coal Production

Leadership Transition Solidifies Strategic Direction

MC Mining Limited has confirmed the appointment of Yi (Christine) He as its Managing Director and Chief Executive Officer, effective 1 October 2025. Ms He has been serving in an interim capacity since July 2024, stepping in after the departure of Godfrey Gomwe. Her permanent appointment signals the board’s confidence in her leadership during a pivotal phase for the company.

From Shareholder to Executive, A Unique Custodian of Value

Ms He’s long-standing relationship with MC Mining spans over two decades as a major shareholder, giving her a deep understanding of the company’s culture and strategic challenges. Her commercial acumen, particularly in financing and managing large-scale mining projects, has been instrumental in steering MC Mining’s shift from exploration to the development and operation of high-quality coal assets in South Africa.

Her leadership has been marked by successful equity raises and a comprehensive cost restructuring, alongside assembling a new leadership team. These efforts have laid a solid foundation for the company’s ambitious production targets.

Eyes on Makhado, Production Milestone in Sight

The company is gearing up to meet its coal production target at the flagship Makhado Project in the first quarter of 2026. This project, focused on hard coking coal, is central to MC Mining’s strategy to become a globally competitive and cash-generative coal producer. The appointment of Ms He as permanent CEO is a clear signal that the company is prioritizing operational execution and sustainable growth.

Compensation Reflects Performance Expectations

Ms He’s remuneration package includes a guaranteed annual cost to company of ZAR 3.5 million, with eligibility for performance-based bonuses up to 200% of this amount. Additionally, she qualifies for participation in the company’s performance rights scheme, which may include share options. This structure aligns her incentives closely with company performance and shareholder value creation.

Board Chairman Mathews Senosi emphasized the strategic importance of securing Ms He full-time, highlighting her unique position to balance the interests of diverse stakeholders and drive the company’s success.