Minergy's coal lures local, international attention

Giving an update on the market, Minergy CEO Morné du Plessis said their objective is to secure additional long-term export seaborne offtake agreements since the logistics and coal qualities have been established. “At the same time, we assess funding options, including enquiries to place approved equity, to reduce debt and consider expansion opportunities,” he said.

For the six months, Minergy sales averaged close to 68,000 tonnes per month which includes the downtime following the general December shutdown period. According to the CEO, volumes are roughly 53% higher, while pricing has been exceptional and approximately 66% higher than the comparative six-month period. “During these six months, roughly the same volume of coal was sold during the entire 2021 financial year and sales have already reached 70% of the full 2022 financial year volumes,” he said. Minergy’s preferred evacuation route for seaborne exports is through the Walvis Bay Port where they export about one-third of their coal.