Gov't places P700m bet on Minergy

Friday, April 25, 2025 | 660 Views |

Troubled: Minergy’s Masama Mine has experienced operating challenges in recent times
PIC: PHATSIMO KAPENG

Whilst international coal market prices remain constrained, government has chosen to swim against the tide by converting its P700 million debt into equity in the troubled local colliery, Minergy Ltd.

Government has chosen to put skin in the troubled game, opting to convert its debt to Minergy into an equity stake that would make government a shareholder through its mining investment agency, the Minerals Development Company Botswana (MDCB).

Currently, Minergy owes government a total of P716 million held through convertible quasi debt instruments between two parastatals being MDCB and the Botswana Development Corporation (BDC). Both interests are the result of loan advances over time to Minergy Coal for operations.

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