[miningmx.com] – TRANSNET, the South African transport and logistics company, said it expected to move about 75 million tonnes of export coal in its 2016 financial year despite a pricing bloodbath in the coal market.
Citing Siyabonga Gama, acting CEO of Transnet, Bloomberg News said coal volumes would only be slightly down on the 76.3 million tonnes exported in Transnet’s 2015 financial year. Iron ore volumes would also be robust.
“There is a bloodbath in the commodities market, but the extent to which we have experienced it, it is much less than what we thought might actually happen,” Gama told Bloomberg News.
“When I talk to the customers, some of them feel very strongly that if they responded to the market they would be squeezed out completely,” he said.
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