[miningmx.com] — SOUTH Africa’s logistics group Transnet said on Wednesday it has been moving coal to the Richards Bay Coal Terminal at a record rate of 1.6 million tonnes (Mt) per week, with stockpiles at the terminal rising as exporters struggle to ship all of their coal.
“We’ve been transporting on a weekly basis of around 1.6Mt. What has been exported out of the terminal has been around 1.4Mt. There are stockpiles at RBCT of around 5Mt,” Transnet CEO, Brian Molefe, told journalists.
He added that the company was exploring options to transport the coal to alternative ports around RBCT to make sure more shipments go out.
Meanwhile, Transnet has posted a 20.3% rise in revenue to R22.4bn in the six months to September from the previous comparable period, boosted by strong growth in export iron ore volumes and containers handled at their ports.
Earnings from operations before interest, taxation, depreciation and amortisation (EBITDA) rose 27% to R9.4bn, while operating profit lifted 25.2% to R5.1bn, from the previous comparable period.
