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Minergy holds expansion of Masama coal in Botswana

Coal News - Published on Thu, 25 Apr 2019

Image Source: Mining MX
Mining MX reported that the retreat in export coal prices, down from about USD 100 per tonne at the end of last year to USD 68 per tonne currently, couldn’t come at a worse time for Minergy, a coal development firm listed on the Botswana Stock Exchange. CEO Mr Andre Bojé, formerly CEO of Wescoal Holdings, has subsequently iced a 1 million tonne expansion project of the firm’s Botswana property, Masama. Mr Bojé said that the proposal was to first establish a 1.2 million tonne per year mine supplying regional markets, including South Africa, and then almost immediately expand by another 1 million tonne which would be sold to export-orientated traders. The company would not consider an expansion of Masama until the export price had returned to about USD 80 tonne.

There was some surprise when Mr Bojé first announced Minergy’s plans for Masama with less than a year from sod-turning to production marking a somewhat ambitious timeline. Mr Bojé said there had been commissioning delays to the firm’s processing plant which was to be imported from South Africa until load-shedding delays hit.

Source :

Posted By : Sanju Moirangthem on Thu, 25 Apr 2019
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