By Ntokozo Nkambule
The Chief Financial Officer of Inyatsi Group Holdings Jabulile Shabangu says Maloma Colliery is one of the largest producers of anthracite coal in the region and the world.
Shabangu disclosed this during the recently held Vusumtfo Expo 2023, which was hosted by the Eswatini Investment Promotion Authority (EIPA) in partnership with the Federation of Eswatini Business Community (FESBC).
“Coal mining, particularly anthracite coal mining, continues to be a significant source for industries and natural resources for development in the 21st century. Anthracite coal is a type of coal that is highly sought after due to its carbon content and low sulfuric content which makes it more eco-friendly than any other type. Maloma Colliery is one of the largest producers of anthracite coal in the region and the world at large,” she posited.
Furthermore, the CFO noted that the company has also performed well since the takeover by Inyatsi Group Holdings.
She disclosed that over E200 million has been invested in the mine towards expansion, and most importantly, infrastructure. Shabangu said this has led to the company recording significant profits as new management has not only met their goal of turning Maloma into a well-revered mine but have also exceeded in increasing profits.
Currently, Maloma Colliery has a turnover of E1 billion, compared to E300 million previously.
She added that Maloma’s growth is important as it has led to a number of Small and Medium Enterprises benefitting through the value chain.
Worth mentioning is that Maloma Colliery has been granted a 25-year lease, which is dependent on the outcome of further exploration of resources in the area.
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