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.

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.