Jun 11, 2020 In South Africa, the level of public finance for coal that was reported nearly tripled, from ZAR 792 million (USD 56 million) a year in 2013-2015 to ZAR 2.1 billion (USD 151 million) in 2016-2018. While progress needs to be dramatically scaled up, some institutions are leading the way in phasing out fossil fuel investments.
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South Korean buyers have already returned to the South African market, booking at least two cargoes of high-CV RB coal in the past week, at prices at or below $49/t fob. Zero South African coal was shipped to South Korea in the first quarter of 2020, port data show.
Investments in clean coal could save South Africa's coal sector — Consultancy.co.za; South African thermal coal mood ‘bearish’ amid production drop, rising prices — Platts CTI; Cheap Natural Gas Is About to Kick More Coal Out of Europe — Bloomberg; NW Europe falls to 7-month low, Richards Bay also down — McCloskey Coal Report
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This price is comfortably cheaper than current South African levels. A trade was concluded Wednesday morning for South African 6,000 kcal/kg NAR coal, 50,000 mt for June, at $103/mt FOB Richards Bay, making South African coal more expensive before any delivery cost.
largest coal importer by 2025, with imports trebling by 2040. Coal demand in South-East Asia would quadruple by 2040, with coal use overtaking the USA, while coal demand would also grow in Africa, Latin America and Eastern Europe. Queensland CEO Michael Roche said the outlook was positive despite the current downturn in prices.
July was appointed CEO of Coal South Africa in September 2016. Prior to that, he held the position of Executive Head of Processing at Anglo American Platinum and was employed by Anglo American subsidiaries in Zimbabwe, where he held senior managerial positions in metallurgical operations and technical services.
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API 4: The price for all coal exported from Richards Bay, South Africa; API 5: The price of NAR 5,500 kcal/kg, high-ash coal exported from Australia; API 6: The price of NAR 6,000 kcal/kg coal exported from Australia; API 8: The price of NAR 5,500 kcal/kg coal delivered to south China; API 12: The price of NAR 5,500 kcal/kg coal delivered to ...