Minergy Limited
(Incorporated in accordance with the laws of Botswana)
(Company Number: BW00001542791)
www.minergycoal.com
("Minergy" or "the Company")
TERMINATION OF CURRENT MINING CONTRACTOR
Minergy wishes to inform the market that Minergy Coal (Pty) Ltd ("Minergy Coal"), a wholly owned subsidiary of Minergy Limited, has issued a notice to terminate its mining contract with Jarcon Opencast Mining Botswana (Pty) Ltd ("Jarcon"). In the notice, Minergy Coal will terminate the mining contract in 30 days.
The termination of the mining contract is in line with the strategic intent of the Board of Directors and the financiers of Minergy, to stabilise operations and bring the business to sustainable profitability. During this transition period, arrangements have been made to ensure business continuity and minimal disruption in coal supply to clients, by inter alia using stock holdings available.
The market is further informed that the process of appointing a new mining contractor is at an advanced stage and a final decision will be communicated in due course.
By Order of the Board
Mokwena Morulane
Independent Chairman
4 September 2023
Minergy Limited | Pinnacle Park | Building 3 Ground Floor Unit 2 | Plot 75782 | Setlhoa | PO Box 2330 ABG | Broadhurst |Gaborone Tel: +267 397 2891 | Fax: +267 397 2893
Sponsoring Broker: Imara Capital Securities (Pty) Ltd | Unit 1E | Ground Floor Peelo Place | Plot 54366 | Western
Commercial Road New CBD | Gaborone | Tel: +267 318 8710
Transfer Secretaries: Corpserve Botswana | Unit 206 | 2nd Floor | Plot 64516 | Fairgrounds | Gaborone Tel: +267 393
2244 | Email: contactus@corpservebotswana.com
1
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
Minergy Ltd. published this content on 04 September 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 September 2023 13:19:05 UTC.