[PODCAST] 'The struggle is not to get the coal out of the ground; Thungela simply can’t get it through Richards Bay Coal Terminal' Bruce Williamson – IntegralAssetManagement on MoneywebNow with SimonPB. Download the podcast below. Moneyweb Mining
SIMON BROWN: I’m chatting now with Bruce Williamson of Integral Asset Management. Bruce, I appreciate the time again. I want to touch on Thungela. Before I do, some thoughts on coal. There are lots of different pricing points of course for coal, depending on where it’s shipping, the quality and the like. But just a generic chart I’ve got shows coal much of last year up around the $400/tonne level. It’s now sub-$200/tonne at this point.
SIMON BROWN: We are almost creating our own shortage. And of course that is the challenge with Thungela. They’re struggling with Transnet. They’re not struggling to get the coal out of the ground; that they’re doing brilliantly. They simply can’t get it through Richards Bay Coal Terminal and [CEO] July Ndlovu in the last results wasn’t keen to give a forward-looking forecast.
SIMON BROWN: And that’s it. To your earlier point, coal is probably one of the most hated commodities in the world right now, notwithstanding that our planet runs on it.
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