https://www.miningweekly.com
Cement|Coal|Construction|Exploration|Export|Mining|Resources|Steel
Cement|Coal|Construction|Exploration|Export|Mining|Resources|Steel
cement|coal|construction|exploration|export|mining|resources|steel

Magni Investment Holdings’ subsidiary granted eSwatini prospecting licence

5th October 2021

By: Tasneem Bulbulia

Senior Contributing Editor Online

     

Font size: - +

Investment management company Magni Investment Holdings’ (MiH’s) subsidiary Lurco Coal Eswatini has been granted a prospecting licence for coal resources at the Mpaka coal mine, in the Lubombo region of eSwatini.

MiH co-founder Ellington Nxumalo, met with eSwatini Mining Commissioner Robert Biyela on October 4 to ink the agreement.

MiH will start feasibility study work and exploration over the next few weeks and expects the timeline from this phase through construction to implementation to take between 24 and 36 months.

The Mpaka coal mine was last operated in 1992, having been mothballed after the previous owner exited the eSwatini market.

The nature of the coal is suitable for smelters, steel and cement industries and will bolster the country’s participation in the export market and create employment opportunities particularly for the youth, MiH says.

eSwatini’s National Development Strategy sets out the long-term development programmes that will move the country towards the improvement in livelihood standards of the Swazi people by 2022.

While much has been achieved, the African Development Bank reports that a large proportion of the Swazi population is not participating in the mainstream economy as the current economic growth is not pro-poor and unemployment remains high.

MiH believes the Mpaka coal mine, once it is up and running efficiently, could be an important contributor to addressing unemployment.

The company says it is committed to delivering stakeholder value by creating inclusive economies through the responsible beneficiation of mineral resources, and plans to meet with the Mpaka community to outline plans and timelines, undertake a needs assessment, answer questions and agree the way forward.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Showroom

Aqs image
AQS Liquid Transfer

AxFlow AQS Liquid Transfer (Pty) Ltd is an Importer and Distributor of Pumps in Southern Africa

VISIT SHOWROOM 
WearCheck
WearCheck

Leading condition monitoring specialists, WearCheck, help boost machinery lifespan and reduce catastrophic component failure through the scientific...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Resources Watch
Resources Watch
2nd May 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.137 0.173s - 107pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: