Sasol slides on US woes

18 August 2019 - 00:13 By Asha Speckman

Sasol's share price fell the most in 20 years on the JSE on Friday after Sasol postponed the release of its annual results, saying it had not completed a review of problems affecting a giant chemicals project in the US.

The share dropped as much as 16%, the biggest intraday decline since September 1998, as the beleaguered Lake Charles project in Louisiana continued to sap investor confidence. Costs at the flagship development have swelled 50%, from initial estimates to almost $13bn (R197bn), amid weather delays and construction setbacks...

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