New Coal Exports From North Block Complex
TerraCom Limited’s (ASX:TER) first ever full shipment of thermal coal from its South African operations has sailed. The tonnes were produced from the company’s North Block Complex.
CEO, Danny McCarthy, said the company has been diligently working to increase the South African export quantities over the last few months and the sailing of the very first shipment is a significant milestone for the South African operations.
During the COVID-19 pandemic the domestic demand for coal from our South African operations reduced which further necessitated a more diversified sales strategy that targeted a more aggressive mix of both export and domestic sales.
“The implementation of the export strategy in South Africa has been a key focus of the Company’s commercial and marketing team since the Company acquired Universal Coal plc in June 2020,” Mr McCarthy said.
“The coal quality from several of the South African operations is high and the now established export strategy provides the platform for further growth opportunities for the company in this market. We look forward to working with the South African management team to increase our export sales mix to deliver on the total coal sales targets.”
