Coal news and updates

Richards Bay Coal Terminal exports rise by 10% as Transnet rebounds

Richards Bay Coal Terminal (RBCT) exported 52.08 million tonnes of coal in 2024, an increase of 10% on the previous year’s volumes as state-run logistics provider Transnet slowly gets back on track under new management.

RBCT CEO Alan Waller said on 24 January during a media presentation at the terminal that 60 million tonnes was the goal. But for now, that’s an aspiration.

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“Fifty-five million tonnes should be achieved in 2025; the question is: can we get to 60 million?” said Waller.

Speaking about the improvements, Waller said Transnet CEO Michelle Phillips and the new management team deserved much of the credit.

“The new leadership has paved the way to allow for collaboration. We had tried for a number of years as industry to influence things but it was not well received,” he said.

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In recent years, Transnet’s mismanagement and operational woes have cost South Africa’s mining sector tens of billions of rands annually in lost export revenue, with ripple effects across the wider economy, including lost inflows of foreign exchange.

This state of affairs has been thrown into sharp relief by the curtailed export flows from RBCT, which is designed specifically for handling coal by rail and cannot switch to trucks as an alternative.