This article is 13 years old. Images might not display.
AFRICA’S largest coal export facility has reportedly increased shipments 7.7% in April from a year earlier.
The Richards Bay Coal Terminal in eastern South Africa is owned by mining giants BHP Billiton and Anglo American and has a design capacity of 91 million tonnes per annum.
According to Bloomberg, the 276-hectare terminal site moved 5.17 tonnes of coal over the year to April despite a 17% drop in exports due to increased US shipments depressing European and Asian demand.
XMP Consulting analyst Xavier Prevost told Bloomberg South African producers were waiting and hoping for prices to recover and the latest data showed Richards Bay prices at just under $US100 a ton.
“There is an oversupply of coal in Europe, China and India,” he was quoted as saying.
“The US market is very depressed, and shale gas is taking an increasing market share from coal. As a result, US coal is going to India, China and Europe.”
