Anglo-American coal spinoff Thungela Resources notified the market on Thursday that it has signed an amended long-term agreement (LTA) with Transnet, regarding coal rail capacity and rates. Moneyweb MiningNews AkhonaMatshoba
Anglo-American coal spinoff Thungela Resources notified the market on Thursday that it has signed an amended long-term agreement with Transnet, regarding coal rail capacity and rates. Transnet’s agreement with Thungela as well as other coal export parties binds the state-owned entity to a minimum contractual rail capacity of 60 million tonnes for the financial year ending March 2023.
At the time Transnet cited several challenges including rife vandalism of its coal lines, insufficient maintenance and a lack of locomotives as reasons why it could no longer honour its coal delivery agreement with CEPs. Read:Transnet lifts force majeure on 9 coal exporters According to Thungela, prior to enforcing the force majeure, Transnet was only able to deliver 58.3Mt of coal to the RBCT in 2021. This was almost 20Mt less than the terminal’s annual capacity of 77Mt.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
1nvest lists emerging Asian markets ETF on the JSEThe JSE now has 92 ETF listings with a combined market capitalisation of R118bn
Read more »
Slow rise of SA women executives to the top amid bidding warA new report by PwC has examined executive female appointments at JSE-listed companies since 2020
Read more »
JSE faces weaker Asian markets as investors digest mixed newsMinutes from the US Federal Reserve were seen as mildly hawkish, while investors are still digesting scary inflation numbers from the UK
Read more »
MARKET WRAP: JSE books its highest close since late May, boosted by minersSanlam Wealth sees further upside for resources, boosted by China’s economic stimulus amid easing of Covid-19
Read more »
JSE-listed companies slow in hiring women | CitypressA study conducted by an auditing firm has revealed that there has been minimal progress in balancing gender representation in Johannesburg Stock Exchange (JSE) listed companies since last year.
Read more »
JSE faces positive Asian markets on Wednesday ahead of Fed minutesPositive earnings reports from US retail giants helped support sentiment in Wall Street overnight, but attention is on the future of monetary policy
Read more »