The future of South Africa’s coal industry is not what it used to be

By Brendan Ryan | Mining Mx

The future of the once-booming South African coal industry is no longer what it used to be or, to use another well-known old saw, the ‘winds of change’ seem to have finally caught up with the sector that produced 259 million tons (Mt) of coal in 2019 and earned total revenues of R139.3bn.

This development is not new because the trend has been noticeable for a while. According to Minerals Council of SA statistics, net investment in the coal industry has dropped from R4.5bn in 2010 to R2.5bn in 2018 despite the fact that more than 70% of the country’s power is generated by burning coal.

But the last couple of years has seen a tsunami of adversity for South African coal producers whipped up by, among others, environmentalist lobbyists who have successfully built up pressure on financial institutions, both worldwide and in South Africa, getting many to agree not to fund new coal projects…Full Story