Petrochemicals giant Sasol has reported a 3% year-on-year increase in mining productivity for the 2024 financial year ended June 30, with productivity of 983 tons per continuous miner per shift (t/cm/s) having improved on last year’s 951 t/cm/s.

Saleable production in the mining segment, however, was 2% lower year-on-year at 30.2-million tonnes, which Sasol attributes to a reduction in mining sectors and increased discards from its export beneficiation plant.

The reduction in sections was owing to the merging of sections in line with Sasol’s strategy to improve overall coal quality.

The group’s coal export sales volume improved by 5% year-on-on-year to 2.1-million tonnes, driven by higher production at the Thubelisha colliery and improved Transnet Freight Rail performance.

Sasol’s gas business reported 6% higher volumes year-on-year from its operations in Mozambique. The 120-billion standard cubic feet produced in the year exceeded market guidance that was capped at 119-billion standard cubic feet.

The company says the higher volumes were owing to the early start of production from the PSA initial gas facility in May, following the necessary approvals from the Mozambique government.

Natural gas and methane-rich gas sales volumes in South Africa were 4% and 7% higher, respectively, at 37.8-billion standard cubic feet and 24.1-billion standard cubic feet, compared with the prior year, owing to improved production performance and external customer demand.

In the fuels division, Sasol reports, the Secunda Operations produced seven-million tonnes of synfuels, marking a 1% year-on-year decrease. This included 3.3-million tonnes of refined product, 693 000 t of heating fuels, 586 000 t of alcohol and ketones and 1.6-million tonnes of other chemicals.

Overall, the energy business (which comprises mining, gas and fuels), reported a consistent performance against market guidance notwithstanding macroeconomic volatility.

Despite the strong rand oil price in the period, Sasol continues to see the impact of lower diesel differentials and inflationary pressure on its liquid fuels segment.

Sales revenue from the South African chemicals business was 11% lower year-on-year at $3.4-billion, while the average sales basket price also trended 13% lower in the reporting year at $971/t owing to lower oil prices and weaker global demand.

The groupwide external sales volume totalled 6.3-million tonnes in the year under review, generating $7.8-billion of sales revenue, which compares with an external sales volume of 6.1-million tonnes last year selling for $8.9-billion.

Sales revenue from Sasol’s US chemical assets was also lower, with lower prices having led to a 12% decrease year-on-year. Sales volumes were, however, higher in this region at 3% year-on-year.

The Chemicals Eurasia business also posted a 17% year-on-year decline in sales revenue, despite 3% higher volumes.

Sasol will release its financial results for the year on August 20, as well as its outlook for the 2025 financial year.