Riding on China call, Exxaro not so keen on Transnet
Transnet's troubles could scupper the miner's plans for 2021, while slow reform could ruin chances of an economic recovery
19 March 2021 - 05:10
Exxaro, one of the country’s largest black empowered mining companies, warned that rail bottlenecks could put paid to plans to capitalise on booming coal export prices, becoming the latest resources company to lament freight delays in delivering minerals to the ports.
Exxaro, which unveiled a handsome R7.85bn windfall for shareholders via dividends and a share buyback on Thursday, is among SA suppliers that shipped coal to China for the first time in six years as the world’s biggest coal-consuming nation looks for alternatives to Australia, with which it is in a diplomatic row...
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