South Africa: Energy giant Sasol prepares for new coal mining reality

By Xolisa Phillip
Posted on Tuesday, 1 March 2022 13:57, updated on Tuesday, 8 November 2022 12:23

A man walks past South African petro-chemical company Sasol's synthetic fuel plant in Secunda
A man walks past South African petro-chemical company Sasol's synthetic fuel plant in Secunda, north of Johannesburg, in this picture taken March 1,2016.REUTERS/Siphiwe Sibeko/File Photo

South African chemicals and energy giant Sasol has hired a seasoned mining hand to resolve challenges at its coal mines as the company mulls the resumption of a dividend and weighs the future of its oil refinery.

The recovery in demand and prices of global oil and chemicals has been a boon for the company, but production problems at its South African coal mines have offset these benefits, according to Sasol’s latest update to the market.

“Sasol has […] been lucky to have […] mining [experts] at its executive level. [But] somehow, over the years, we haven’t had that focus,” President and CEO Fleetwood Grobler tells The Africa Report following the release of Sasol’s interim results for the second half of 2021 on Monday, 21 February.