Sasol Ups Coal Exports Amidst Decline in Overall Production

South African petrochemicals company Sasol reported a 5% increase in coal exports for the year ending June 30, despite a 2% overall dip in coal production. The rise in exports was attributed to improved freight rail performance and higher production at its Thubelisha colliery. However, revenue from its chemicals business declined by 13% due to lower prices.

South African petrochemicals company Sasol increased coal exports by 5% in the year to June 30, driven by improved freight rail performance and higher production at its Thubelisha colliery, it said on Monday. The company exported 2.1 million tons of coal during its financial year, up from 2 million tons previously.

However, Sasol reported a 2% dip in overall coal production to 30.2 million metric tons from 30.8 million tons the previous year, mainly due to a reduction in its mining operations. Output from Sasol's Secunda operations, where the company produces synthetic fuels and chemicals from coal, remained flat at 7 million tons.

Revenue from Sasol's chemicals business declined by 13% to $7.86 billion, primarily due to lower prices. The company is scheduled to release its financial results on Aug. 20.

(With inputs from agencies.)