Morupule Coal secures new supply markets
Pauline Dikuelo | Monday May 30, 2022 08:41
“We have lots of coal traders who have been sending enquiries, MCM has been identified as a potential solution, we have a lot of countries lined up and we are exploring potential partnerships with them. We believe we will be able to harvest this opportunity,” he said. MCM recently signed two contracts to export P54 million worth of coal to Asia and P190 million worth of coal to Europe through Maputo, Mozambique. In addition, they are also in talks with Poland to export coal to their country. “We are selling to coal traders who are targeting the European markets.
We are not specific to any country and are currently selling to Glencore, which supplies European markets. Our clients are mostly in Europe and Asia,” he said. MCM is currently exporting to Namibia, South Africa, and Zimbabwe. COVID-19 has completely reshaped global coal markets as coal is expected to be the next major source of power generation. To meet the demand, the GM said they are working on ramping up production. The mine is in plans to build an additional plant. “We are currently in an optimization drive to double our capacity with 10 million tonnes per annum, we believe if we can push ourselves, we will be able to capitalize on the opportunity at the end of the day. And that is possible and can be done in the shortest time possible. The board has challenged us to accelerate these plans so that we don’t miss out on the opportunity,” he said.