Thungela reaches terms with Transnet amid rail dysfunction
The group says the amendment to its long-term contract will not affect its recent operational guidance
18 August 2022 - 11:09
Coal miner Thungela Resources, which recently cut its guidance due to rail woes, says it has reached terms with Transnet that commits the rail operator to haul a minimum of 60-million tonnes for its year to end-March 2023.
Transnet hauled 58.3-million tonnes of export coal in its 2022 financial year, 20% less than its target, and problems on its network has meant SA’s coal miners have been missing out in part as prices boom in the wake of Russia’s invasion of Ukraine...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.