Entries by WiredWPAdmin

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MINERGY REPOSITIONS AS LOW-COST COAL PRODUCER

20 March 2024 – Gaborone – Minergy, the coal mining and trading company, today released results for the six months ended 31 December 2023. During the period under review, Minergy faced significant operational headwinds, primarily due to the March 2023 suspension of activities by the former mining contractor.

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UPDATE ON ENGAGEMENT OF MEROPA MINING COMPANY

14 December 2023 – Gaborone – The appointment of Meropa follows a rigorous vetting and extensive negotiation process which seeks to entrench operational efficiencies and anchor Masama Coal Mine operations in the lower to mid quartile of the producer’s cost curve, supporting sustainable growth and profitability.

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Minergy experiences a year of two distinct halves, but the foundation set for a sustainable future

28 September 2023 – Gaborone – Minergy, the coal mining and trading company, today released results for the year ended 30 June 2023, indicating that strong momentum in the first half was eroded by year-end due to changes in the international coal market. Outgoing Chief Executive Officer (“CEO”) Morné du Plessis indicated that the year […]

Minergy experiences exceptional turnaround in fourth quarter FY22

Loss-making trend replaced with profitability and positive cash flows 20 September 2022 – Gaborone – Minergy, the coal mining and trading company, today released results for the year ended 30 June 2022. The Group achieved combined revenue of P425 million (2021: P193 million), with cost of sales of P484 million (2021: P256 million). Pure coal […]

Minergy provides market update

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 in mid-March. The company cited substantial progress being made toward reaching nameplate capacity of 125 000 tpm during the six-month period, with achievements having included producing the highest six-monthly volumes […]

Minergy lifts thermal coal production at Masama but operating losses persist

BOTSWANA thermal coal producer Minergy said it reduced its operational loss in the six months ended December following an improvement in prices as well as higher output from Masama, its 125,000 tons a month nameplate capacity mine. Production following the commissioning of stage 4 of its processing plant regularly exceeded 105,000 tons per month, said […]

Minergy edges closer to nameplate capacity

Botswana-based coal miner Minergy provided a voluntary update to the market ahead of releasing its interim results for the period ended 31 December 2021 in mid-March. The company cited substantial progress being made toward reaching nameplate capacity of 125,000 tonnes per month during the six-month period, with achievements having included producing the highest six-monthly volumes […]

Minergy edges closer to nameplate capacity at Botswana mine

Botswana-based coal miner Minergy says in a voluntary update that is has made considerable progress toward reaching nameplate capacity of 125 000 t a month at its Masama coal mine during the six months to December 31. Among the milestones achieved during this period was producing the highest six-monthly volumes across all disciplines since the […]