Morupule Coal Mine (MCM) Board Chair, Dr Bonny Matshediso has said a steady increase in demand for coal in the Asian market and lately in Europe has necessitated the company to change tact and refocus so that it can get maximum value of its productivity hence the birth of the new corporate strategy.
Speaking at the launch of the new corporate strategy 2022-2027, Dr Matshediso said MCM’s dream is to be multi-product, globally competitive, low-cost producer of high quality coal products with the agility to service diverse markets and customers.
“Like dreamers everywhere in the world, we are deliberately ambitious and we have set ourselves some targets which we are confident that we will meet,” said the MCM Board Chair.
Dr Matshediso said MCM intend to ramp its production to 7.6 millon tons of coal per annum by 2027 and in the process hoping to return P3 billion worth of revenues to the shareholder.
Currently, MCM generates P1 billion in revenue annually, but is projected to make its first P3 billion revenue in 2023.
MCM Chief Executive Officer (CEO), Edwin Elias said the company have already started with delivery of 60 000 tons out of the 170 000 tons of coal destined for the seaborne market through the Maputo port as they march to meet its 2022/2027 coal tonnage output.
“We will marshal all our resources to ensure that this new strategy is fully resourced so that we can meet our set targets and drive the business profile of this mine to much greater heights,” said Elias.
“We know that we have set bold and ambitious target for ourselves but our aim is to win and win, we will.”
Last month, President Mokgweetsi Masisi commissioned the Motheo Project — the mine expansion project aimed at feeding into the current strategy of increasing production and revenue.
𝐌𝐂𝐌 𝐆𝐎𝐄𝐒 𝐁𝐈𝐆 𝐎𝐍 𝐂𝐈𝐓𝐈𝐙𝐄𝐍 𝐄𝐂𝐎𝐍𝐎𝐌𝐈𝐂 𝐄𝐌𝐏𝐎𝐖𝐄𝐌𝐄𝐍𝐓
As part of the new corporate strategy, Morupule Coal Mine will set up a fully-fledged office for citizen economic empowerment in a bid to support citizen companies and reduce national import bill.
“We have a plan to achieve 50% Citizen spend supporting 3000 jobs by 2027. We have a duty as a responsible company to make sure that Batswana are prioritized in access to the economic opportunities that may result from our operations, and we have full commitment in doing just that,” said Dr Matshediso.