BEE coal export deal

FUEL: The Richards Bay Coal Terminal expansion project will provide an opportunity for emerging BEE coal export companies. © Unknown.\n\nThe expansion of Richards Bay Coal Terminal will increase export capacity to 91-million tons of coal a year from 72-million tons. Business Day Exporter 1 September 2008, page 10.
FM 29/01/2010 PG 7 Richards Bay coal terminal.

IN DEMAND: South African coal is still flowing steadily from Richards Bay to India, and prices in China are expected to strengthen. Business Day 29 April 2010, page 12.
FUEL: The Richards Bay Coal Terminal expansion project will provide an opportunity for emerging BEE coal export companies. © Unknown.\n\nThe expansion of Richards Bay Coal Terminal will increase export capacity to 91-million tons of coal a year from 72-million tons. Business Day Exporter 1 September 2008, page 10. FM 29/01/2010 PG 7 Richards Bay coal terminal. IN DEMAND: South African coal is still flowing steadily from Richards Bay to India, and prices in China are expected to strengthen. Business Day 29 April 2010, page 12.

South Africa's main coal export terminal said 26 coal companies had applied for export rights, which would be granted based on the black empowerment credentials of applicants if there were cases of over-subscription.

South Africa's main coal export terminal said 26 coal companies had applied for export rights, which would be granted based on the black empowerment credentials of applicants if there were cases of over-subscription.

The Richards Bay Coal Terminal (RBCT), the largest such facility in the world, will boost its export capacity to 91million tons a year from 72million tons, at a cost of R1,16billion, in an expansion project due to be completed by 2009.

The applications were in respect of nine of the 19 million tons in additional capacity, the RBCT said.

"In the event of over-subscription for the nine million tons and all applications being equal, the empowerment status of the applicants will be the over-riding ranking criteria," said chief executive Kuseni Dlamini.

Dlamini did not disclose the applicants names, but said the successful ones would be named in the first half of next year.

Current and potential coal exporters had until close of business last Thursday to submit their bids to Alexander Forbes, the independent adjudicator appointed by RBCT to oversee the tender process, Dlamini said.

Of the other 10 million tons, four million tons will be taken up by emerging BEE firms with modest export volumes of up to 250000 tons yearly, while SIX million tons will go to South Dunes Coal Terminal.

The RBCT has said the extra export capacity could earn some R6billion yearly in foreign currency into South Africa. - Reuters

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