By …says it’s a sign of strong confidence in the country
By Nomsa Dlamini
His Majesty King Mswati III has praised Inyatsi Group Holdings Chairman Michelo Shakantu for making major investments in the Kingdom of Eswatini, saying this demonstrates strong confidence in the country’s economy.
“I am very happy with what Shakantu and his team are doing for the country as they collaborate with the government to provide massive support for the empowerment and improvement of the lives of emaSwati,” the King said.
His Majesty referred to Shakantu as ‘Shabangu’ a name he was given by the regiments when he underwent the sacred ritual of initiation to be one of the King’s warriors.
“The investments in high-end technology and developing skills of emaSwati are commendable indeed. Shabangu and his team continue to make a significant contribution towards growing our economy and promoting a conducive investment climate in the country,” the King said.
Maloma Colliery
“Shakantu, who is also called Shabangu in the regiments has also partnered with us as the country in providing solutions to some of the challenges we, like many other countries face, including unemployment in our country.”
The King was speaking during the official opening of Shaft 1 of Maloma Colliery Limited. The mine is one of the subsidiaries of Inyatsi Group Holdings.
Maloma Mine currently provides direct and indirect employment to 1000 people. It also spends three per cent of its profits on a robust Corporate Social Investment (CSI) programme that uplifts the lives of the people of the three Chiefdoms in which it operates.
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These are the Mamba, Dlamini and Mngomezulu chiefdoms whose combined population is 100, 000 people.
His Majesty noted that Maloma Mine was one of Eswatini’s most committed investors and a big business with a massive economic and social impact.
“I would like to invite you as the employees, community members, and entrepreneurs from the area where Maloma Mine operates to fully support the company and ensure that its assets and goodwill are very well protected,” the King said.
Expand
“I urge you to take the time to find out more about and leverage the vast opportunities for economic empowerment that Maloma Mine has brought to our country.”
His Majesty said during the tour he was appraised fully how the company had plans to expand its operations even further and provide jobs for many more hundreds of emaSwati.
“This is good news for all of us as a nation as it gives strong evidence that Inyatsi Group Holdings, and by extension Maloma Mine, are fully committed to Eswatini by strategically investing in emaSwati, advanced technology of world-class standard,” the King said.
His Majesty added: “We thus see a brighter future for our mining industry as emaSwati and look forward to growth and continued success for this sector. We will continue to fully support investors such as Shakantu and Inyatsi Group Holdings, and all companies who have chosen to invest in our country. This is part of the importance of growing our economy,” said His Majesty.
Eswatini on the road to steel production – King
His Majesty King Mswati III says the success of Maloma Mine in mining and processing the high-value anthracite coal will be used as a stepping stone for steel production in the country.
His Majesty told the nation that the iron ore mine in Ngwenya will soon be opened and fully operationalised, saying the combination of the two minerals could enable Eswatini to enter the lucrative steel production business.
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“Steel production depends to a very large part on coal. The anthracite coal that you produce here at Maloma Mine is ideal for steel production. Very soon the iron ore deposits in that mine will be opened and this places us in a very good position to enter the foray of steel production,” the King said.
“I call on all of you as employees and community members of Maloma Mine, and all emaSwati to position yourselves well for these exciting developments,” the King said.
It was gathered that steel production is reliant on coal, which is primarily used as a reducing agent to extract iron from iron ore and to provide the carbon content needed in steel.
Prepare for post-mine life
His Majesty King Mswati III says communities around mines should be proactive in their actions and prepare to continue to thrive when the mining companies close, or the minerals underground get finished.
He was speaking on Friday at Maloma Mine where he called on community members to diversify the local economy.
He said this was crucial to reduce disruptions to their livelihoods and to properly plan for their future.
His Majesty noted that building the adaptive capacity of the communities around mines is a viable way to alleviate the burden on the government to deal with the social and economic impacts while securing the future of the people.
