Minergy indefinitely suspends operations at Masama

Tuesday, March 07, 2023 | 2140 Views |

Grounded: Operations have been suspended at Masama due to cash flow troubles. The Mine kicked off in 2019 and had enjoyed a bumper 2022 after Russia’s invasion of Ukraine raised global coal prices 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.

CEO Morne du Plessis confirmed the latest developments in a statement released this evening. The move will affect more than 300 workers employed by mining contractor Jarcon Opencast Mining Botswana.

"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," he said.

Already have an active account? Log in here.

Or Sign up and get unlimited access to premium articles.

ZCC St.Engenas headquarters in Moria.PIC.PRESIDENCY OF SOUTH AFRICA

St Engenas ZCC ends years of infighting

Mpho Mokwape | 2d ago

Women’s voices fading in politics

Tsaone Basimanebotlhe | 2d ago

Mupane bidders in settlement talks after CoA clash?

Mbongeni Mguni,Oarabile Mosikare | 2d ago

Gov’t accused of interfering in disputed P300m Mogo road tender

Innocent Selatlhwa | 2d ago

Mahalapye Prison’s thriving underground economy

Sharon Mathala | 2d ago

Depression is real; let's take care of our mental health

It is not uncommon in this part of the world for parents to actually punish their children when they show signs of depression associating it with issues of indiscipline, and as a result, the poor child will be lashed or given some kind of punishment. We have had many suicide cases in the country and sadly some of the cases included children and young adults. We need to start looking into issues of mental health with the seriousness it...

The Monitor Editor | 02 December 2025

About us

Mmegi is the leading independent source of breaking news, latest news, current
affairs, Politics, Business, Sport, debates, analysis, and entertainment news in Botswana.

Explore

More