The whole coal picture globally is not a happy one. However,...

The whole coal picture globally is not a happy one. However, there is still money being spent on coal projects, CZA are trying to takeover Universal. The issues with the Waterberg remain, rail, water and yields from the coal.

Exxaro look to be getting ready to rail coal for eskom from Grootegeluk to Kendal PS near Witbank, if this becomes a regualr supply it will take up some of the limited rail capacity.

My concern is , who takes over from PJ? paul knows the project and the issues intimately and the new CEO is going to have to get up to speed like an express train.