Africa-Press – Eswatini. Lurco Coal Eswatini Chief Executive Officer (CEO) Ellington Nxumalo says they have already started mining development processes at the Mpaka Coal Mine as well.
Lurco Coal is another company that was granted a licence to mine part of the Mpaka Coal Mine. In a brief interview with this publication, Nxumalo said processes had already begun at the mine and they were working around completing all the processes and start extracting the minerals. Speaking during the breakfast meeting for the captains of industries, organised by the South African High Commission late last year, Nxumalo said their objective as a company was to increase foreign direct investment (FDI) in Eswatini.
He said they also wanted to attract and increase skills transfer to build the country’s economy. The CEO mentioned that another objective was to forge stronger ties between countries within the Southern Africa Development Community (SADC) region and continue to create African economies of scale.
Jobs
Nxumalo said they intended to assist Eswatini in creating an export-based economy through the development of sustainable mining development. It must be said that Lurco had envisaged creating 1 000 direct jobs and an undisclosed number of indirect employment for emaSwati. Lurco Coal Eswatini is a subsidiary of Lurco South Africa, a mining company listed on the Johannesburg Stock Exchange (JSE). Listing means the formal admission of securities of a company to the trading platform of the exchange.
It means the company is transparent in its business dealings. In 2019, Mining M reported that Lurco Group invested E300 million in the surface deposits, which consisted of some 70 million metric tonnes (Mt) in return for the mining licence – at the Optimum Coal Mine, the Mpumalanga Thermal Coal Mine.Records indicate that Lurco Group was supplying coal directly to ESKOM.
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