A drastic reduction of coal energy supply will come at a hefty cost for South Africa, as the country grapples to cope with growing poverty levels and record-high unemployment.

Coal has continued to confound sceptics as energy security continues to top the agenda in the global economy.

Private investment company Menar, which has a strong focus on mining, has joined the International Dry Bulk Terminals Group (DBTG) as an Associate Member.

Continuing a spate of new global enrolments, the World Coal Association (WCA) today welcomed South African mining investor, Menar, to its roster of progressive coal members.

Menar expands and diversifies mineral assets in a show of confidence for the future of mining in South Africa.

Coal remains crucial to global energy security.

Unlocking mining sectors' full potential starts when red tape bottlenecks stop.

Menar Chief Operating Officer Bradley Hammond and Buffalo Coal Sales and Marketing Manager Bill Lamont shared their perspectives on the local and international market at at the virtual Coaltrans Asia 2020 conference on 24 November 2020.

Speaking during a panel discussion with other coal industry stakeholders, as part of the virtual Joburg Indaba, on Thursday (8 October 2020), Mpumelelo Mkhabela, chairperson of mining investment firm Menar, called on coal producers to do their part in improving transparency and accountability in their relationship with Eskom.

Coronavirus (COVID-19) has had a devastating impact on the South African economy, which already had record-high unemployment. However, Vuslat Bayoglu, managing director of investment company Menar, has argued that the coal mining sector, could aid reviving the economy.

Speaking during at the Joburg Indaba panel discussion on the topic of the ‘Outlook for Coal Mining and South Africa’s coal sector’, chairperson of mining investment company Menar, Mpumelelo Mkhabela, stated that: “What may be deemed just for Germany in terms of transition away from coal, may not be just for emerging countries such as South Africa and India.”

Menar chairperson Mpumelelo Mkhabela speaking during a panel on junior mining, in Sandton, said that: “…with hard work, dedication and great humility we are able to share our success story of evolving from a junior miner to a mid-tier producer that seeks to become a major player in the South African coal sector.”

Vuslat Bayoglu, the managing director of mining investment company Menar, has stressed the importance of reinvestment of income from existing operations to fund growth in light of the reluctance of South African commercial banks to fund coal-related investments.

Coal suppliers need to deal fairly with Eskom by seeking reasonable returns and not excessive profits. High input costs to power generation, including coal, ultimately cause higher electricity prices which is detrimental to South Africa's economy, said Menar MD Vuslat Bayoglu.