A wheel loader transports coal from a pile at the Mafube open-cast coal mine, operated by Exxaro Resources Ltd. and Thungela Resources Ltd., in Mpumalanga, South Africa on Friday, Sept. 9, 2022. South Africa relies on coal to generate more than 80% of its electricity, and has been subjected to intermittent outages since 2008 because state utility Eskom Holdings SOC Ltd. can't meet demand from its old and poorly maintained plants. Photographer: Waldo Swiegers/Bloomberg
Transnet rail recovery starting to show up in rising coal exports
Volumes through Richards Bay Coal Terminal are on a four-year uptrend, though not yet back to the 2017 peak.
Some outstanding financial results from coal producers in the last few months point to a steady improvement in Transnet Freight Rail (TFR) performance.
Thungela Resources reported a sharp improvement in earnings for the six months to June 2026. Headline earnings per share increased 150% to R4.80, while the interim dividend nearly trebled from R2 to R5.50 a share.
The Writer's Room is a curated by Ciaran Ryan, who has written on South African affairs for Sunday Times, Mail & Guardian, Financial Mail, Finweek, Noseweek, The Daily Telegraph, Forbes, USA Today, Acts Online and Lewrockwell.com, among others. In between he manages a gold mining operation in Ghana, and previously worked in Congo. Most of his time is spent in the lovely city of Joburg.
