Sasol Falls to One-Week Low After Sasolburg Sulfur Spillage
Sasol Ltd. (SOL) declined to the lowest in more than a week after the company said it cleared its Sasolburg plant yesterday after spilled sulfur set off alarms.
Shares in the largest producer of motor fuels made from coal slipped as much as 2.1 percent to 355 rand, the lowest level since June 13, and traded at 357.76 by 11:10 a.m. in Johannesburg.
A small amount of the sulphur additive that is mixed with gases at the plant was spilled, said Jacqui O’Sullivan, a Sasol spokeswoman. She said there were no gas leaks.
“We closed roads in the area and moved personnel to gathering points, as per our emergency protocols, but the operations continued at the plant and production was in no way affected,” O’Sullivan said in a separate e-mailed comment to Bloomberg.
The spillage may “have a small effect on Sasol’s shares, but at the end of the day it won’t impact production,” Drikus Combrinck, a portfolio manager at PSG Konsult, said by telephone.
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