Springlake acquisition expands Menar’s anthracite footprint

Springlake acquisition expands Menar’s anthracite footprint

Menar has added KwaZulu-Natal-based Springlake Colliery to its portfolio.

Menar has added another layer to their South African growth story with the acquisition of the Springlake Colliery, an anthracite mine located about 45 kilometres from Newcastle in KwaZulu Natal.

Menar acquired Springlake 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,” says Menar’s Managing Director, Vuslat Bayoglu.

Springlake a strategic asset

“Springlake Colliery is a strategic asset that further strengthens Menar’s 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.

Product suitable for export

Located in Dannhauser, close to 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 successful 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 the South African economy while sustaining jobs. Currently, the colliery directly employs 300 people, excluding contractors.

Image: Springlake yields a niche product suitable for export markets in parts of Asia, Europe, and South America. Image credit: Menar

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Springlake acquisition expands Menar’s anthracite footprint