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Minergy Limited
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      • Milestones and Successes
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    • About Masama
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About Minergy

Minergy's 100% owned Masama Coal Mine which is located in the Mmamabula Coalfield of Botswana is the cornerstone asset in the company's strategy. The size and location of this shallow resource supports its competitive cost structure, which is underpinned by cost-effective opencast mining of high quality coal. The resource is near to existing rail, road and water infrastructure, and has significant distance advantages over existing coal suppliers to regional markets.


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OPERATIONAL

  • Overburden moved, and coal extracted increased by 82% and 54%, respectively
  • For the first time since inception, >1 million tonnes was extracted in a financial year
    • Plant throughput volumes, buoyed by the completion of stage 4, increased by 49%
  • This supported the production of product mixes in line with forecasts and away from uneconomical fractions
  • Water utilisation improving (33% savings in litre per tonne), justifying the investment in the dewatering screen, filter press and rigid screening section
  • Sales volumes increased by 41%. Since inception Minergy has sold more than 1 million tonnes of coal
  • Monthly sales volume record >75 000 tonnes achieved in May 2022 on the back of destocking and Free-on-Board (“FOB”) export sales
  • Sales of larger, more profitable product sizes into seaborne thermal coal export markets successfully delivering two FOB vessels from Walvis Bay and exporting coal via Zimbabwe to Maputo by rail
  • Continuous road maintenance of the public road from Medie, albeit expensive, allowing minimal interruptions during the rainy season and supported increased road transport
  • Excellent health and safety records ‣ Bolstering of the management team, including the first female manager appointed as a process engineer

FINANCIAL

  • Increasing cost pressure of diesel and explosives increasing by 127% and 57%, respectively, exacerbated by double-digit inflation in Botswana
  • Pure coal revenue (ex-transport) increased by 77% to P297m (2021: P167m), driven by:
    • 41% volume increase
    • Average sales prices increasing by 26%
  • A continued trend in decreasing operating expenditures, including employee costs
  • Stable ZAR/BWP exchange rate
  • Operating loss improved to P74m (2021: loss P85m), primarily due to Minergy achieving breakeven in the last quarter, cementing a good foundation for the future
  • Cash losses improved from P74m to P58m (a 22% improvement from 2021 and 39% improvement from 2020)
  • High and increasingly expensive finance costs from increased funding and higher debt restructuring rates
  • P9m paid in royalties (2021: P5m) and P5m paid in withholding taxation, which support the local economy
  • Net cash used in operating activities increased to P110m (2021: P37m) on the back of increased working capital investment contributing a swing of P91m alone from growth in Q4

ENVIRONMENT

  • Rehabilitation is an ongoing process, and all mining is undertaken within the parameters of the mining licence
  • 4.2 million m3 rehabilitated in FY22. This exceeded the total volume rehabilitated since the start of mining operations
  • Increased use of dust suppression to curtail dust and construction of speed humps

SOCIAL

  • Corporate social responsibility remains core to Minergy for communities in and around the mining area (Refer to the Minergy Cares brochure on the website)
  • Citizen Economic Empowerment Plan in place, including using 22 local transporters
  • 96% of the workforce is Batswana, and 97% of the staff are vaccinated
  • P488m was spent on local registered company procurement

GOVERNANCE

  • Unitary, functioning Board of Directors in place
  • Strong ethical base with Whistleblowing Hotline in place

TOP PRIORITIES FOR 2023

Maintain production capacity with resultant stable profitability and cash flows

Normalise the capital structure

Increase sales and advance relationships formed with new customers

Corporate social investment

Latest News

Minergy experiences exceptional turnaround in fourth quarter FY22

Press releases

Loss-making trend replaced with profitability and positive cash flows 20 September 2022 – Gaborone – Minergy, the coal mining and trading company, today released results […]

September 20, 2022/by WiredWPAdmin
/wp-content/uploads/2018/05/minergy-logo-jpeg.jpg 0 0 WiredWPAdmin /wp-content/uploads/2018/05/minergy-logo-jpeg.jpg WiredWPAdmin2022-09-20 07:06:212022-09-20 07:38:56Minergy experiences exceptional turnaround in fourth quarter FY22

Minergy provides market update

Press coverage

Botswana-based coal miner, Minergy, has provided a voluntary update to the market ahead of releasing its interim results for the period ended 31 December 2021 […]

January 31, 2022/by WiredWPAdmin
/wp-content/uploads/2018/05/minergy-logo-jpeg.jpg 0 0 WiredWPAdmin /wp-content/uploads/2018/05/minergy-logo-jpeg.jpg WiredWPAdmin2022-01-31 13:13:342022-02-01 13:14:33Minergy provides market update
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Latest Uploads

  • 2022 Integrated Annual Report | (14Mb)
  • Minergy Results – Year ended 30 June 2022 | (1Mb)
  • Condensed Group Audited Financial Results for the year ended 30 June 2022 | (2MB)
  • Minergy Abridged Audit Report 2022 | (134KB)
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Progress of the Masama Coal Mine

Watch Progress of the Masama Coal Mine

Masama Coal Resource

Minergy’s focus is the development of the Masama Coal Mine within the scope of the Prospecting Licence located on the south western edge of the Mmamabula Coalfield in southern Botswana. Minergy’s wholly owned subsidiary Minergy Coal holds the Prospecting Licence for Coal and Coal-Bed Methane, where a 380Mt Coal Resource has recently been independently delineated.

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MASAMA COAL MINE

P.O Box 2330 ABG, Broadhurst, Gaborone, Botswana, Tel: +267 397 2891

Whistleblowing Hotline Contact Details
Email Address (for emails and attachments): minergy@i-Tell.africa
For additional information please go to the contact page on the website

The following link (Disclaimer) contains the full text of the Company’s disclaimer, which relates to amongst other matters, the following: This message is addressed only to the intended recipient(s) and may be privileged or confidential, does not constitute legal or other advise or a recommendation, may not be copied, distributed or disclosed, does not create or change any contract, may not be relied upon and no actions based on it may be taken or omitted to be taken, it may not contain full information to evaluate or assess the Company or its Projects or statements made by it, may contain opinions which must not be relied upon, may contain forward looking statements which you must not relay upon and which may prove not to be correct, is not an offer of securities in any jurisdiction. No assurance can be given that the information in this email will prove to be correct and no representation or warranty, expressed or implied, is given as to the accuracy or completeness of such views contained in this message. By emailing the Company you provide various consents to us as more fully set out in the following link. The Company accepts no liability of any kind relating, emanating or resulting directly or indirectly from this message.

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