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

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.

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.”

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.