Mine excursion
initiative was driven by investment company
Menar, of which Canyon Coal is a subsidiary.
Billed as the ‘Kangra New Beginning’, the
event was held near the mine, which is in
the Mkhondo municipality. The municipal
leaders, traditional authority leaders and other
community leaders joined the celebration.
Speakers at the ceremony lauded the
initiative, saying it laid the foundation for
the redefinition of the relationship between
workers, community and the new mine owners.
Chairman of Menar Mpumelelo Mkhabela
said the share allocation to employees and
community was different to the usual employee
share-ownership schemes where shares are
granted for a limited period.
“This is a permanent arrangement. For
as long as you work at Kangra, you will
own shares. If the company makes profits
and dividends are declared, you will also
benefit from dividends that will accrue to the
employee trust,” Mkhabela explained.
Canyon director Dr Sakhile Ngcobo
provided a broad overview of Kangra's
operations, explaining that the company is
involved in the mining and processing of
thermal coal, through the operation of an
underground mine, along with several opencast
pits, located in the Mpumalanga coalfields.
Kangra currently produces about two
million tons a year of saleable coal with
the majority of its high volatile coal sold
on the export market, and the rest sold to
independent users.
Menar social licensing manager Xolile
www.miningmirror.co.za
The company is
involved in the mining
and processing of
thermal coal, through
the operation of an
underground mine,
along with several
opencast pits, located
in the Mpumalanga
coalfields.
JULY 2019 MINING MIRROR [13]