Exxaro’s first-half export coal sales to fall 6% on logistics challenges, low prices

Diversified resources company Exxaro Resources expects to report a 6% decrease in export coal sales volumes to 2.51-million tonnes for the six months ended June 30, compared with 2.67-million tonnes for the six months ended December 31, 2022, as a result of Transnet Freight Rail’s (TFR’s) poor rail performance to the Richards Bay Coal Terminal (RBCT) and the viability of trucking coal to alternative ports being negatively impacted by the lower coal prices. FD Riaan Koppeschaar notes in a pre-close statement to shareholders that TFR had railed 19.95-million tonnes of coal the RBCT during the five months ended May 31, which is equivalent to an annualised rate of 46.46-million tonnes.