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Transnet CEO Molefe raises alarm on softening coal price

8th August 2014

By: Natasha Odendaal

Creamer Media Senior Deputy Editor

  

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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.

Edited by Martin Zhuwakinyu
Creamer Media Magazine Managing Editor

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