Coal stocks build up at South Africa's Richards Bay

A build-up of coal stocks at the Richards Bay Coal Terminal in South Africa could mean a slowdown in the buyers’ market, even if Transnet, the national rail freight carrier, has increased its efficiency in shifting material from mines to the port

On October 26, Transnet Freight Rail chief Brian Molefe said, during a presentation of the company’s interim results for the six months to the end of September, that coal stockpiles at the port had risen to nearly 5 million tonnes. This was a result of Transnet moving coal to the terminal faster than it could be shipped out, he said. It is unclear what the previous stock levels at the port were. According to a source close...

Published

Bianca Markram

October 27, 2011

14:10 GMT

Johannesburg