Botswana Stock Exchange (BSE)-listed Minergy Limited, a coal mining and trading company which owns 100% of the 390-million tonne Masama Coal Project in the Mmambula Coalfield, has made pleasing progress on the operation.
Advancement, including the construction of a new washing plant, has been made since the company was granted a mining licence in August this year.
Minergy, which listed on the BSE in April 2017, is seeking a listing on the United Kingdom’s Alternative Investment Market during 2019.
“While Minergy is still in the development and exploration phase, we’ve made considerable progress towards full operational status, and have also invested in infrastructure, including offices in Medie and Lentsweletau,” said Andre Bojé, the company’s CEO.
In addition to breaking ground and having contractors start work after the mining licence was granted, Minergy is actively engaging the local communities about job creation and upliftment programmes
This includes improving the school and the clinic in the village closest to the mine, Medie, as well as bringing in electricity.
The mining contract was awarded to Jarcon, a joint venture between IPP, a South African company, and Giant Plant, a Botswana company, whole the Build-Own-Operate-Transfer contract for the washing plant was awarded to Pentalin Processing.
Contracts for the provision of site and bush clearing, civil works, power reticulation, water and waste management, road construction and weighbridges are also in various stages of appointment.
Bojé said that both Botswana and Minergy have a significant role to play in fulfilling the increased demand for coal, with four million tonnes of coal exported from South Africa to the African continent in 2016, which is forecast to rise to 38 million tonnes by 2030.
The thermal coal price has also increased 33 percent over the past 18 months, making it one of the world’s top five highest-performing commodities.