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His Majesty, King Mswati III wants the country’s iron ore reserves mined and processed in Swaziland.

 

He expressed this wish to officials of Indian based company, JSW Energy Limited, whom he met in one of several business meetings yesterday. His Majesty is in Dubai for the 2012 World Energy Summit which begins today.

 

This stance could come as a relief to many locals who have expressed concern about the country’s natural resources being exported as raw material only to be sold back to the people of Swaziland as finished products at a high cost.

 

Currently, Salgaocar Swaziland is excavating and exporting iron ore. The mining licence for the iron ore is still up for grabs.

 

In an interview after their meeting with the King, the Managing Director and CEO of JSW Energy Limited, Sanjay Sagar said the meeting was about a proposal which they had presented to the Government of Swaziland on putting up a power plant and coal mining. "In addition to this, he spoke to us about the possibility of putting up a steel smelter in Swaziland because he wants the iron ore in Swaziland also to be utilised.

 

"Fortunately, JSW happens to be both a steel and a power company so I have assured His Majesty that we will look into the possibility of setting up a smelter also, so that the iron ore in Swaziland can be utilised along with the coal," said Sagar.

 

He said following the meeting yesterday, JSW was now looking forward to the Swaziland Government moving quickly on these projects by allocating the mining rights for both the power plant and the smelter project.

 

Minister of Natural Resources and Energy, Princess Tsandzile confirmed talks around the possibility of setting up a smelter factory for the iron ore. She said the company was yet to consult and bring back a proposal to the Swaziland Government.

 

"From the discussions we held, it appears to be a very viable project so we expect them to come back to us very soon so we may take it forward," she said.(Source: Times of Swaziland)