Minergy eyes first profits from Masama

Thinking positive: du Plessis expects Minergy to break even and possibly record a profit this year
Thinking positive: du Plessis expects Minergy to break even and possibly record a profit this year

Local coal producer, Minergy, expects that the current financial year will record its first period of operational profitability since its establishment, after strong results in the last quarter of the just-ended financial year.

Minergy, which owns Masama Coal Mine in Medie, kick-started operations in 2019 but has yet to produce profits due to both operational and market issues.

However, after three depressed quarters in the year to June 30, CEO Morne du Plessis said the last quarter of the reporting period had produced the first operational profit. The last quarter, running from April to June, was helped by record global demand for coal after Russia’s invasion of Ukraine sparked an energy crisis in Europe and other countries.

Editor's Comment
Urgent call: Stop the killing!

The previous week, we had an article about a police officer shooting his wife, and turning the gun on himself, whilst he died, his wife survived and is still in the hospital.Sadly that was not the only article we carried on intimate partner killings. There was the Francistown case, where a young woman allegedly stabbed her ‘former boyfriend’ and many others which were reported throughout the week.As all the reports were coming in, a Botswana...

Have a Story? Send Us a tip
arrow up