Thungela has said that state-owned rail operator Transnet's inability to move sufficient coal to ports prevented it from exporting 300 000 metric tons of coal in the six months to June 30.
Thungela Resources, South Africa’s largest shipper of coal burned in power stations, suffered a 69% drop in first-half profit, hit by lower prices and transportation problems, it said on Monday. The Johannesburg-based thermal coal producer spun off from Anglo American in 2021 added that it could be forced to “structurally resize the portfolio in response to rail constraints”.
Read: SA’s mining output falls further below pre-pandemic levels Freight rail capacity problems in South Africa have forced coal and iron ore miners to cut output as they struggle to haul minerals to ports and stocks pile up at mines. Read: Global demand for coal is bringing mayhem to SA towns Thungela has said that state-owned rail operator Transnet’s inability to move sufficient coal to ports prevented it from exporting 300 000 metric tons of coal in the six months to June 30.
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