The SA operations sell a majority of coal at a fixed margin to Eskom (SA energy provider), only a small portion ~90kT is sold to export market, of which TER share is roughly 50%.
So the SA business does not have the exposure to export market that BA does. That said, company is trying to increase exposure to export from SA and it would seem the logistics and port access are the sticking points here.
Ann: September 2021 Coal Sales Update, page-19
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