Saturday, Feb19,2011
South Africa's Department of Mineral Resources has told junior coal exporter members of the Quattro scheme that its administration will be handled by Richards Bay Coal Terminal (RBCT) instead of current operator Mhlatuze, sources at Mhlatuze and junior exporters said.
A total of 4 million tonnes a year of thermal coal is exported under Quattro through RBCT's facilities, but the administration - including the running of stockpiles, loadings and trains - has been handled by Mhlatuze, which is owned by the Quattro member companies.
Quattro member companies who attended a regular meeting earlier this week were given a letter from the department (DMR), which explained that the move would take place as soon as possible, sources at the meeting said.
It makes sense for RBCT to be handling Quattro's operations on the terminal side, and Transnet have already offered to arrange trains, etc., said a junior mining source present at the meeting.
Neither the DMR nor RBCT were immediately available for comment.
(sourced:Reuters)
Tags: South Africa, thermal coal, DMR, RBCT, Transnet,
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