Despite the global shift away from coal-based energy sources, Vuslat Bayoglu, the Managing Director of mining investment company Menar, emphasizes the continued importance of coal in providing baseload electricity and supporting critical industries. In an effort to highlight coal's role in the energy transition and its significance for developing nations, Menar will participate in the upcoming London Indaba, scheduled to take place at the Intercontinental London Park Lane hotel in the UK from June 26 to 27. During the event, the company will engage in a panel discussion exploring the viability of coal amidst current global trends and the growing opposition to fossil fuels.

Bayoglu asserts that coal will remain a crucial commodity for many countries, projecting that it will contribute around 39% of baseload electricity generation for emerging markets, particularly in South-East Asia, by 2040. He points to alarming statistics, such as the World Bank Energy Progress Report for 2022, which estimates that 733 million people worldwide lack access to electricity, with 80% of individuals in Africa facing energy limitations. Bayoglu highlights the urgency of addressing high levels of energy poverty in Africa by providing accessible, reliable, and affordable energy sources like coal.

However, Bayoglu also acknowledges the need for a balanced approach that supplements coal with renewable energy rather than a sudden and drastic shift that may cause unintended consequences. He believes that the recommissioning of coal mines is feasible in the long term, as advancements in technology can help reduce emissions and mitigate environmental impact. By implementing clean coal technologies such as beneficiation, gasification, and combustion, coal mining can achieve better environmental outcomes and contribute to both climate goals and energy security.

As a private investment company in Africa, Menar expresses keen interest in the trajectory of the coal industry and its potential to contribute to economic growth. Menar aims to maintain stability and efficiency in its existing coal mines in South Africa while diversifying its portfolio and forming stronger business partnerships. The company is committed to sustainability initiatives, job creation, community development, and enhanced productivity. Menar intends to lead the digitalization of mines in Africa by implementing advanced technologies to improve safety and efficiency, setting a benchmark for the industry's future.