With respect to the company’s key commodities, the average benchmark API4 Richards Bay Coal Terminal (RBCT) export price for the first six months of the year is expected to average $101/t, compared with $112/t in the second half of 2023, free-on-board (FOB), a decline from the previous six months.
Additionally, the iron-ore fines price for the first half of the year is expected to average $117 per dry metric tonne (DMT), including the cost and shipping to China, down from $121/DMT in the previous six months.
Total coal production, including buy-ins, and sales volume for the first six months of the year are expected to decrease by 14% and 12%, respectively, mainly owing to reduced demand from Eskom for coal produced at the Grootegeluk mine, based on the utility’s latest internal plan.
