'Only coal prices can drive SA growth'

摘要

Vuslat Bayoglu, CEO of Canyon Coal, has said that coal prices must increase by at least a fifth if coal export volumes at Richards Bay Coal Terminal (RBCT) are to significantly increase. Bayoglu said that a free-on-board price in excess of US$75/t was needed for new mine development and investment in additional capacity at RBCT. Prices currently average about US$60/t. While exports to South and East Asian customers have increased over the past decade, the rise has been offset by declining demand in South Africa's traditional markets in Europe.