Menu

Transnet

Port and rail inefficiencies to cost SA R1bn a day

, , ,

Action is urgently needed as the collective cost of port and rail failures in SA over the past 18 months is R150bn

by SIYABONGA MTHEMBU AND LANCE PETERSEN – Business Day

It has been estimated that the collective cost of port and rail failures in SA over the past 18 months is R150bn. From another perspective, the collapse of Transnet is set to cost the country R1bn a day in economic output, the equivalent of 4.9% of our country’s annual GDP, or R353bn. Take a moment to let those numbers sink in…Full story

Mgojo blames Exxaro’s 30% plunge in coal exports to “one of worst rail performances”

, ,

By Brendan Ryan | Mining MX

EXXARO Resources churned profits and dividends in the six months to end-June but that was thanks to its non-managed iron ore investments because its core coal business was hammered by Transnet Freight Rail’s (TFR’s) disastrous performance on the coal export line to Richard’s Bay.

Coal export sales plunged 30% to 4.1 million tons (Mt) in the six months to end-June (six months to end-June 2020: 5.9Mt). That’s worse than was predicted in March by Exxaro CEO-elect Nombasa Tsengwa who warned that some two million tons of coal exports were “at risk” for all of 2021 because of TFR’s poor performance.

Tsengwa today told Miningmx that the “at risk” figure on Exxaro’s forecast coal exports for 2021 had been increased to three million tons…Full Story