BY PHUMELELE MKHONTA
MBABANE– “We have just been granted a mining license so we are going to begin mining in January.”
Inyatsi Group Holdings Executive Chairman Michelo Shakantu, in a trending corporate video, has revealed that Maloma Colliery will start mining this month.
Worth noting is that the mining company is a subsidiary company for Inyatsi Group Holding, alongside eight other powerhouse companies in different sectors.
“The license will give the mine a 25-year life. The impact to the community is enormous as it creates opportunities with the form of employment. We are going to embark in a US$100 million (E7.6 billion) investment on the mine which will create and enormous amount if jobs- not just in the community but in the country as well.
“We are going to be the biggest producers of anthracite coal- after Russia and Ukraine,” said Shakantu in the video.
Yesterday we published that in a ‘fact book’ that was released on Inyatsi Group Holdings social media pages, it was revealed that the above-mentioned mining company had created jobs for emaSwati for the next 25 years.
Worth noting is that Maloma Colliery is one of the subsidiary companies for Inyatsi Group Holdings, which is under the leadership of Michelo Shakantu. Shantu has his name engraved in the ‘fact book’ which was released today.
“How many jobs would be created through an investment of US100 million (E1.7billion) at a mine with a 25-year lifespan (from 2023 – 2048)?
“We are excited about what the future holds for Maloma Colliery Limited (a subsidiary of the multinational Inyatsi Group Holdings) #AnthraciteCoal #FromEswatiniToTheWorld (sic),” read the caption on the post.
Another fact which the company revealed the recruitment policy has led to over 90 per cent of jobs set aside for locals.
“3.5 per cent of profits are ploughed back into the community, which is more than what is required by the law,” reads another fact.
Inyatsi Group Holdings Communications Specialist Ncobile Dlamini confirmed the information on the fact book; however, she could not comment any further.
Maloma Colliery is a subsidiary of the Inyatsi Group Holdings which wholly and/or part-own 10 businesses across nine African countries, realising an annual turnover of US$450 million (E7.6 billon).
