Monday, 6 June 2022: Manufacturer and supplier of bricks and coal, Brikor Limited (JSE: BIK) celebrated the launch of Kopanela Mining by breaking ground on the Grootfontein mine in Nigel, Gauteng. Situated adjacent to Brikor’s fully owned Ilangabi coal mine, Kopanela Mining will create around 300 new jobs over the next five years. In addition, it is expected to produce 50 000 tons per month with the potential to increase production further.
Siabonga Vezi, regional manager for the Department of Mineral Resources and Energy (DMRE) lauded the initiative’s contribution to developing the local economy. “We are pleased to see positive steps forward for Ekurhuleni and have granted mining rights for a period of 30 years.”
Kopanela Mining is a broad-based Level 2 BBBEE vehicle formed in accordance with the 2018 Mining Charter to secure future prospecting and mining rights in South Africa. Said chairperson Funeka Mtsila, “In the context of social and economic strain caused by Covid 19, this initiative will play a significant role in aiding recovery by securing employment and financial sustainability to many in Nigel.”
Brikor CEO Garnett Parkin said that the move confirmed Brikor’s commitments to wealth creation for all its partners and the broader Nigel community. “The formation of Kopanela Mining also affirms Brikor’s support and compliance with the DMRE’s objectives and regulations by its 30% BBBEE ownership. We are pleased to have worked closely with the City of Ekurhuleni and the DMRE to bring the Kopanela Mining vision to reality,” he said.
Brikor recently released annual results for the year ended 28 February 2022 and reported that coal sales are dramatically higher compared to the same period in 2021 subsequent to the financial year-end. “We are working to ensure that we have sufficient coal stock to meet increased market demand,” says Parkin.