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.

Coal remains crucial to global energy security.

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

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.

In full support of President Cyril Ramaphosa’s declaration of the state of national disaster to mitigate the impact of COVID-19, fast-growing mining investment company Menar has suspended all mining operations.

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.