Anglo-American coal spinoff Thungela Resources notified the market on Thursday that it has signed an amended long-term agreement with Transnet, regarding coal rail capacity and rates. Transnet’s agreement with Thungela as well as other coal export parties binds the state-owned entity to a minimum contractual rail capacity of 60 million tonnes for the financial year ending March 2023.
At the time Transnet cited several challenges including rife vandalism of its coal lines, insufficient maintenance and a lack of locomotives as reasons why it could no longer honour its coal delivery agreement with CEPs. Read:Transnet lifts force majeure on 9 coal exporters According to Thungela, prior to enforcing the force majeure, Transnet was only able to deliver 58.3Mt of coal to the RBCT in 2021. This was almost 20Mt less than the terminal’s annual capacity of 77Mt.
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