Africa-Press – Eswatini. Maloma Colliery Ltd has invested a staggering E700 million within just 18 months in transforming the Maloma Coal Mine into what has become a first world mine in the Lubombo and Shiselweni regions.
This has been done in harnessing His Majesty King Mswati III’s dream of transforming Eswatini into a first world country.
The exponentially expanding coal mine, nestled near the village of Maloma, now boast of, among others, an additional shaft that was officially opened by His Majesty on Friday, and comes with an improved life span of 20 years from just a previous mere three years.
The mine that has broken barriers in empowering women and now boasts a first female Chief Executive Officer (CEO) in the male dominated sector, Jabulile Shabangu, has also doubled its staff in just 36 months from 500 in 2021 to over 1 000 in 2024 as a means of playing a part in being a major employer in the region.
The increased staff members include those of contractors that are part of the production chain.
Under the leadership of Chairman Michelo Shakantu, the mine has through continual upgrades and investments, embraced modernisation to meet world class standards.
Shakantu, in partly giving a breakdown of the massive E700 million investment, disclosed that the mine had channelled E200 million in upgrading its processing plant to be more efficient by improving its capacity to now process about double what it used to and also recycle water.
“We have further invested E250 million into shaft one and E150 million into shaft three. All this has been to improve the mine, ensuring operational efficiency and sustainability for years to come.
“We have further paid over E350 million to government in dividends, royalties and other taxes to resonate with our goal of improving the country’s economy and creating a better Eswatini,” he highlighted.
It does not end there as Shakantu also revealed that the company had now diversified its exports into becoming one of the leading FOREX (foreign exchange) earners.
Product
“Other than exporting our product to South Africa, we have now reached out to markets in the Vietnam, Poland and Finland. The sky is just the limit as we try to maximise on reaching the global markets,” added the chairman.
Through strategic investments and operational improvements, the astute businessman further noted that Maloma had significantly improved its production capacity and efficiency.
Maloma mines the highest and finest grade of coal anthracite which is highly sought after worldwide for its superior quality in the metallurgical industries.
Maloma’s anthracite is widely used in the production of chrome and stainless steel products around the world.
Having started operation in 1992, Maloma Colliery had been a cornerstone of Eswatini’s mining sector and with proven reserves of 19 million saleable tonnes and a strategic location just 50 kilometres from the South African border, the mine has been a key contributor to the country’s economy.
Shakantu highlighted that the upgraded first-world processing plant emphasises the importance of leveraging technology and innovation to drive economic growth.
With a renewed emphasis on job creation, he noted that the plant seeks to recruit and train local talent, empowering communities and fostering economic resilience.
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.
For More News And Analysis About Eswatini Follow Africa-Press
