A deal to give 16% shareholding of an anthracite coal mine to rural communities in Mpumalanga is about to be sealed
The Mpumalanga Economic Growth Agency facilitated the shareholding deal at Nkomati Anthracite Mine, which is situated in Mpumalanga within the Nkomazi Local Municipality near Malalane.Nkomati Anthracite Mine struggled over a number of years under Sentula Mining and had a staff complement of only 20 people in 2015.
When Unicorn Capital Partners came on board, the company and Mega secured a R150 million loan from the Industrial Development Corporation , which enabled the mine to expand. “The mine was not performing well about three years ago and Mega could not put equity. We then approached the IDC for funding,” Camane said.
Compared with other mines, Nkomati’s anthracite is of a particular high grade owing its low level of impurities and high level of fixed carbon .
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