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New UserThungela poised to exceed 2024 production targets despite coal price decline
12 Dec 2024
Thungela poised to exceed 2024 production targets despite coal
price decline
Thungela
Resources, the prominent South African coal miner, is set to exceed its
production targets for the year ending December 2024 on the back of
notable improvements in Transnet Freight Rail’s (TFR) capacity following
collaborative efforts within the industry.
Despite
experiencing lower coal prices, the company yesterday said it was optimistic
that it would “exceed the full year export saleable production guidance” in
South Africa and Australia.
Thungela said export saleable production from Australia for the year to December was likely to be about 4 million tons. This surpasses the company’s revised guidance range of 3.5 million tons to 3.8 million tons issued in August.
The higher productivity for Thungela in Australia has been attributed to productivity efficiencies.
In South Africa, Thungela’s export saleable production is expected to top 13.4 million tons, higher than the guidance range of 11.5 million tons to 12.5 million tons.
“This is in line with the improved mine productivity and rail performance in the second half of the year,” said Deon Smith, Thungela’s chief financial officer.
Moreover, the free-on-board (FOB) cost per export tonne for the period is expected to be below the guidance range. This is reflective of the company’s higher production and continued focus on cost efficiencies.
