Menar hopes to strengthen its participation in the anthracite market by adding the KwaZulu-Natal-based Springlake Colliery to its portfolio.

Menar acquired the anthracite mine, Springlake Colliery, from Mylotex (Pty) Ltd after the mine was placed under business rescue. The acquisition was executed through a Sale of Assets Agreement between the two companies, which was signed in November 2024. The transaction was finalised and concluded on 01 May 2025, officially transferring ownership of the mine to Menar.

“We are optimistic about Springlake Colliery’s future, considering the growing demand for high-quality energy sources globally. This acquisition takes us forward and highlights our diversification efforts as a company,” remarks Menar’s Managing Director, Vuslat Bayoglu.

Menar views Springlake Colliery as a strategic asset that strengthens its portfolio, aligning with the company’s broader vision to expand its footprint and pursue opportunities across the global anthracite value chain. Anthracite is a preferred reductant in key industries such as steel manufacturing and ferroalloy production, amongst other vital sectors. It has unique properties, like high calorific value and clean-burning characteristics.

Located in Dannhauser, approximately 45 kilometres from Newcastle, Springlake is an underground mine with the capacity to produce an estimated 60,000 tonnes of run-of-mine anthracite per month. The mine yields a niche product suitable for export markets in parts of Asia, Europe, and South America. It also supplies local customers.

With a substantial track record of acquiring assets and turning them around, Menar is well-positioned to optimise the mine’s operations. This will ensure that Springlake continues to add value to South Africa’s economy while sustaining jobs. Currently, the colliery directly employs around 300 people, excluding contractors. The company intends to invest in Springlake to address the issues that led to it being placed under business rescue. Furthermore, Menar aims to source suitable customers for the product mined at Springlake.