Transnet strike, derailment cost Exxaro half a million tons of export sales | Business

  • 📰 News24
  • ⏱ Reading Time:
  • 40 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 19%
  • Publisher: 80%

United States News News

United States United States Latest News,United States United States Headlines

Exxaro Resources may have lost as much as R2 billion in export sales as a result of the Transnet wage strike and derailment on the coal export line. | News24_Business

Exxaro Resources may have lost as much as R2 billion in export sales as a result of the Transnet wage strike and derailment on the coal export line.

In an operational update on Thursday, the coal miner said it lost out on half a million tonnes that would have been railed to and shipped out of the Richards Bay Coal Terminal, had it not been for a two-week wage strike at Transnet which was followed by almost another two weeks of disruptions owing to a derailment on the Transnet Freight Rail North Corridor.

Using an estimated benchmark export coal price of $271 a tonne in 2021, and an average exchange rate of R15, News24 calculates that Exxaro may have lost as much as $135.5 million, or over R2 billion, in sales as a result of just these two disruptions in the current financial year, which ends in December.Get 14 days free to read all our investigative and in-depth journalism. Thereafter you will be billed R75 per month.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

_Business Where’s the coal going? China? They can burn it but we can’t 😇

_Business No one cares about corporate profits.. 🤷🏾‍♂️

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 4. in US

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

WATCH: SA’s cement industry crumbling under challengesBusiness Day TV speaks to Business Day energy writer Denene Erasmus
Source: BDliveSA - 🏆 12. / 63 Read more »