Photo by: Bloomberg
Exxaro Resources has warned that coal shipments by State-owned freight logistics group Transnet in 2023 have dropped to an annualised rate of only 46.5-million tons. The figure represents a fall from the 50.4-million tons of coal transported to the Richards Bay Coal Terminal for export in 2022, already the lowest volume recorded in three decades. Exxaro attributed the slump to locomotive availability, train derailments, and instances of cable theft and vandalism. Photograph: Bloomberg