Africa-Press – Eswatini. In a pivotal address during the official opening of Maloma Colliery Shaft 1, His Majesty King Mswati III emphasised on the significance of exploring steel production as a transformative measure for Eswatini’s economy.
The King was speaking yesterday during the inauguration of the first world-upgraded coal procession plant, underscoring a strategic shift towards industrial advancement.
His Majesty disclosed that he last visited the mine in 2007, but then there were challenges after that the King disclosed that the mine was now fully- operational.
Elaborating on the potential economic impact, the King during the tour of the mine, commended the dedication of workers and expressed optimism about the impending transformation of the surrounding area into a bustling town.
His Majesty’s recognition of the mine’s technological advancements further reinforced the importance of innovation in driving progress.
The King said with the anthracite coal being mined in the country the country could also venture into mining iron ore.
This according to the king could transform lives of Emaswati by boosting the economy and creating job opportunities. His Majesty also applauded the role played by the mine in job creation. He encouraged the employees to dedicate themselves in their work.
During his tour of the facility, King Mswati III received a comprehensive briefing on the operational dynamics of Maloma Colliery.
Chairman Michelo Shakantu elucidated on the superior quality of coal extracted at Maloma, emphasising its coveted status in steel production. Notably, he revealed that Eswatini, along with South Africa, stands as a leading producer of this specialised coal within Africa, with siberia emerging as a potential competitor.
As Eswatini charted a course towards economic diversification, His Majesty’s advocacy for steel production signalled a strategic vision for sustainable development.
Maloma Colliery Ltd, under the leadership of Chairman Shakantu, has achieved remarkable success in recent years, boasting a significant increase in turnover and profits.
Since the resumption of operations, the company has witnessed a notable 103 per cent surge in turnover and an impressive 364 per cent escalation in profits.
This achievement, highlighted by a net profit after tax reaching E62 323 million, signified a monumental leap compared to previous years. These figures were for the years from December 2020 ending June 2022.
The Maloma colliery Chairman said in a bid to revitalise the economy and create employment opportunities for Emaswati, the company had pursued high investment targets aimed at catalysing economic growth.
During the tour of Maloma Colliery, His Majesty King Mswati III, along with Her Majesty the Indlovukazi, and several cabinet ministers, were visibly impressed by the efficiency and scale of operations at the mine.
As they traversed from one mine shaft to another and witnessed the intricate processes involved in coal extraction and processing, the King and his entourage were provided with a first-hand glimpse into the meticulous workings of the mining industry.
Accompanied by Chairman Shakantu and senior executives, King Mswati III expressed admiration for the advanced technological systems in place, noting their crucial role in optimising productivity and ensuring environmental sustainability.
Amidst the backdrop of towering machinery and bustling activity, Cabinet ministers exchanged insights with some of the mine’s employees.
King officially opens upgraded first world processing plant
His Majesty has officially opened an upgraded first-world processing plant at Maloma Colliery, marking a significant milestone in the coal mining industry of the country.
The plant, established near the village of Maloma, is the result of a joint-venture between two Danish companies, Giersing Rose and Superfos Dammon Luxol, forming the Carbonex partnership.
This upgraded facility reflected the founders’ vision to produce high-quality anthracite coal, with proven reserves of 19 million saleable tonnes.
According to information shared during the tour, with the main seam boasting an average thickness of three metres and of excellent quality, coupled with additional seams like number one, the plant was poised to meet its production capacity target of 250 000 tonnes per year.
Located approximately 50 kilometres from the South African border, this strategic location, it was said, enhanced the region’s economic prospects by catering to European customers’ demands for premium coal products.
For More News And Analysis About Eswatini Follow Africa-Press
