In a show of market confidence, shares in Sasol surged more than 10% at one point on Tuesday as CEO Simon Baloyi sketched out a corporate reset marked by aggressive debt reduction and a pared-back emission reduction budget.

At the heart of Sasol’s cost-cutting plan is the discontinuation of the recycling of fine coal to its gasifiers and the environmental department’s decision to grant Sasol permission to deviate from conventional sulphur dioxide emission measurements at its prized Secunda facility...

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