Minergy indefinitely suspends operations at Masama

Sad sunset: Masama’s operations were suspended on Tuesday and will only resume when demand and pricing improve PIC: MINERGYCOAL.COM
Sad sunset: Masama’s operations were suspended on Tuesday and will only resume when demand and pricing improve PIC: MINERGYCOAL.COM

Minergy Ltd has indefinitely suspended operations at its Masama Mine in Medie, saying coal prices have fallen by 33% since mid-December affecting the company's cash flows.

The decision announced on Tuesday evening came as the more than 300 workers employed by mining contractor, Jarcon Opencast Mining Botswana, downed tools at the mine ahead of a retrenchment planned to take effect on March 31.

"As with many businesses, when structural changes occur in a market and external demand factors influence price, operational adjustments need to be made to bring operating costs in line," Minergy CEO, Morne du Plessis said.

Editor's Comment
CoA brings sanity to DIS/DCEC long-standing feud

This decision follows the raiding of the office of the former Director General of the DCEC, Tymon Katlholo early 2022 and his staff officer by the DIS operatives who reportedly took files that they had targeted.After all back and forth arguments, the CoA has set the record straight giving an invaluable lesson to the DIS that it was no super security organ and it does not have any powers to cogently supervise other security organs including the...

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