Transnet issues may see Exxaro lose out on billions
Continued problems on the railways has been a crippling problem for exporters of coal and other commodities at a time when global commodity prices are booming
Chronic issues on the Transnet rail lines are expected to affect impact Exxaro’s export volumes by two-million tonnes, translating to potentially a couple of billion rand in lost revenue.
Ahead of its half-year financial close, Exxaro on Tuesday warned that coal production and sales volumes were expected to decrease by 11% and 9%, respectively, for the six months ended June 2021. That would be mainly due to continued problems on the Transnet Freight Rail (TFR) line that transports coal from its Limpopo and Mpumalanga operations down to Richards Bay for export...