SITATUNGA RESOURCES APPLAUDS APPROVAL TO DEVELOP FIRST MANGANESE MINE

Sitatunga Resources applauds the latest regulatory authorisation to start building its first manganese mine in the Northern Cape this year.

In September 2018 Sitatunga Resources, a subsidiary of Menar, the investment company with mostly coal assets, announced it had acquired the East Manganese project from Southern Ambition.

On signing of the sale agreement, the project did not have the necessary statutory approvals to lawfully commence with mining activities.

Following public consultations, the final environmental impact assessment reports were submitted to the Department of Mineral Resources in December 2018.

“As new entrants in the Northern Cape mining space, it was a pleasant experience to observe the efficiency of the DMR officials at the Kimberley office. Our environmental authorization for the project was granted on 22 February 2019,” says Sitatunga’s MD, Arne Hansen.

The upbeat project at Sitatunga Resources could not wait to begin operations.

“This was a key milestone for the project and its stakeholders. The approval has also ignited the project team which has since commenced with various aspects of the project implementation plan,” says Hansen.

Sitatunga has also concluded a sale-and-lease agreement with the landowner which allows for unhindered site access.

“We have furthermore appointed Dick Wardle as general manager for the operation. He has extensive experience in the Hotazel manganese fields and we believe he will contribute to the successful execution of the project,” explains Hansen.

Menar’s MD, Vuslat Bayoglu, says the imminent start of operations at its first manganese asset was an indication that the investment company’s strategy was bearing fruit.

Bayoglu adds: “This is yet another indication that we strongly believe in South Africa as a conducive investment destination where regulators are responsive and efficient.

"We are committed to developing assets and creating jobs. As a matter of principle, we don’t sit on our assets, we develop them.”

Menar Holding