HILARY JOFFE: Coal’s comeback is a boost for SA
Thungela, Exxaro and Seriti are all committed to the dark rock despite the turn to renewables
It was a big week for SA’s coal producers, one that highlighted the complex and unexpected ways in which the energy transition is playing out — and the different ways producers are dealing with its challenges.
Thungela and Exxaro announced spectacular half-year profit increases as export coal prices soared. Seriti announced an acquisition of one of SA’s largest renewable energy players worth almost R1bn. The three are pursuing quite different strategies. Thungela, SA’s largest export coal producer, is staying in coal. Exxaro and now Seriti, which together supply two-thirds of Eskom’s coal, remain unabashedly committed to the black stuff too...
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