Zhitong Finance App News, Power Development (01277.HK) announced that the Group completed the subscription for 51% of MC Mining's new common stock on April 22, 2026, with a total subscription cost of US$90 million. On June 11, 2026, the Group subscribed for MC Mining's convertible stock notes with a total principal amount of US$6.136,000, which can be converted into new shares issued by MC Mining to the company on the maturity date. The above investments were all raised from the Group's own capital and part of the placement proceeds. After investment, they were mainly used to build and operate MC Mining's flagship coking coal project in Makhado in South Africa. The subsequent group will further develop the Greater Soutpansberg (GSP) project under MC Mining. The total resource volume of the two projects is about 7.604 billion tons. The Makhado project was officially put into production on August 1, 2026. The project status and detailed progress are as follows:

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