Today's Labour News

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MenarMining Weekly reports that according to Menar MD Vuslat Bayoğlu, his company’s planned R7-billion investments in coal projects between now and 2022 will create 5,600 jobs, thus contributing to the needs of a range of job-short areas.  

The investments will also help to ensure that Eskom has options to buy the right coal at the right price.  “Currently, we employ 3 800 people.  So, in total, hopefully, by the end of 2022, we’ll have reached 9,400 people,” Bayoğlu indicated.  He regards the investments as critical at a time when banks are not providing capital for coal mining, even though Eskom will be needing coal.  Menar expects to be producing 20-million tons of coal a year from 2021/22 and is prepared to offer Eskom all the coal it produces.  “It’s critical to have coal mines because by 2030, according to the Integrated Resource Plan, Eskom will still have 33 000 MW of coal-fired power capacity, requiring about 100-million tons to 110-million tons of coal, ” Bayoğlu pointed out.  The company emphasises that social and labour plans, and opportunities for communities, will accompany all the projects.  Menar is a hands-on investment company that controls and manages Canyon Coal, Zululand Anthracite Colliery, Kangra Coal and Sitatunga Resources.  Menar’s strategy is to focus on developing all its coal projects before diversifying into minerals and metals other than coal.

  • Read the full original of the report in the above regard at Mining Weekly

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