Trading Statement – Challenges in RSA were from a deterioration in Transnet Freight Rail and strikes at the rail company, a rise in illegal mining activity, and increased loadshedding. The average export price was $236.11/tonne, compared to $103.82/tonne in FY 2021. Export production is expected to be 12.8Mt, lower than the revised guidance range of 13.0Mt to 13.6Mt issued in August, and 15% lower y/y. This is mainly due to Transnet. HEPS for FY 2022 is expected to be at least R131.00, an increase of at least R64.43 (or 97%).