Exxaro reduces coal exports forecast due to problems at Transnet
Exxaro says 4-million tonnes of export coal are at risk of being lost, up from the estimate of 3-million in August
Exxaro Resources has further revised down its coal export sales volumes forecast for the 2021 financial year, citing the poor rail performance operated by Transnet Freight Rail (TFR) that is inhibiting its ability to move coal to ports.
In an operational update for the six months to end-December, Exxaro said on Thursday that 4-million tonnes of export coal were at risk of being lost, up from the estimate of 3-million in August. These leave projected total coal export sales volumes for the full-year year at 7.5-million tonnes, down from the original estimate of 11.6-million tonnes...