Mgojo blames Exxaro’s 30% plunge in coal exports to “one of worst rail performances”

, ,

By Brendan Ryan | Mining MX

EXXARO Resources churned profits and dividends in the six months to end-June but that was thanks to its non-managed iron ore investments because its core coal business was hammered by Transnet Freight Rail’s (TFR’s) disastrous performance on the coal export line to Richard’s Bay.

Coal export sales plunged 30% to 4.1 million tons (Mt) in the six months to end-June (six months to end-June 2020: 5.9Mt). That’s worse than was predicted in March by Exxaro CEO-elect Nombasa Tsengwa who warned that some two million tons of coal exports were “at risk” for all of 2021 because of TFR’s poor performance.

Tsengwa today told Miningmx that the “at risk” figure on Exxaro’s forecast coal exports for 2021 had been increased to three million tons…Full Story

Related Posts

,

Coal shortage now at alarming levels, say aluminium producers

With no relief in sight despite coal stocks running critically low and production disruptions looming across the Indian aluminium sector, the Aluminium Association of India (AAI) has urged the union coal ministry for immediate resumption of adequate coal rakes for the highly power-intensive Aluminium industry. In its representation to the Ministry, the AAI has lauded […]

, ,

China Energy Crunch Triggers Alarm, Pleas for More Coal

By David Stanway | Reuters As a severe power crunch roils China’s northeastern industrial heartland, senior officials face mounting pressure from alarmed citizens to ramp up coal imports thick and fast in order to keep lights on, factories open and even water supplies flowing. With electricity shortages sparked by scant coal supply crippling large sections of industry, […]