Transnet CEO Molefe raises alarm on softening coal price
Transnet CEO Brian Molefe last week raised the alarm over the ever-declining coal price.
The company planned to undertake a study on the impact of the lower coal price and said it would make an announcement in due course.
Molefe, speaking during a conference call with the media, said the price of coal had impacted on the State-owned freight company, but the extent had not been determined.
The price of coal had dropped drastically over the past few months, from a high of $135/t to $75/t, and Molefe was “worried” about the possibility of miners holding back coal exports.
The review would examine what the impact of the lower pricing would be on future coal volumes.
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