SA missing out on commodity price boom thanks to damaged Transnet railways

[Hanno Labuschagne]

SA missing out on commodity price boom thanks to damaged Transnet railways

South Africa is missing out on some of the riches on offer from the commodities boom as a rail network beset by problems hobbles its exports.

While coal prices recently soared to a record and iron ore is historically high, miners are being forced to stockpile supplies as state-owned Transnet SOC Ltd.’s rail network buckles under issues from cable theft to breakdowns, compounded by years of corruption.

Last year alone, more than $2 billion in potential coal, iron ore and chrome exports were lost, an industry group said.

[Bloomberg]

 

[Pegging]

 

[Petec]

TL;DR the cANCer successfully dismantling WMC and the legacy of the evol JvR, one block at a time. Fsking muppets.

 

[Gordon_R]

TL;DR the cANCer successfully dismantling WMC and the legacy of the evol JvR, one block at a time. Fsking muppets.

Bloomberg are blaming everything you can imagine:

Frequent locusts infestations that affect traction on the iron ore line and bad weather also add to the list of problems.

 

[Nirple]

Can't export more than we currently are anyway cos the ports are at capacity. Reduced capacity rather, due to sabotage and disruptions at Richards Bay.

 

[wernervn]

It’s become such a headache that South Africa’s top thermal coal shipper, Thungela Resources Ltd., is weighing buying overseas assets to limit its local exposure.

“South Africa is losing money, we are losing money as an industry and we as a company are losing money,” Thungela Chief Executive Officer July Ndlovu said. “It doesn’t make sense for us to concentrate our risk on exactly the same infrastructure that has cost us as much.”

That is why courting foreign investment is a wasted effort if they do not fix the rot first

 

[SilverCode]

Kumba parent Anglo is open to exploring ways to help Transnet transport more, CEO Mark Cutifani said.

Good luck with that. CoCT has been wanting to assist (taker over?) Metrorail for ages now, but the cANCer stubbornly refuse any help because that would be admitting they can't run an SoE on their own.

 

[Deandbn]

Bunch of Muppets.
They deserve what they get..
So yes.. Go on.. Blame the apartheid govt.. Its all their fault that it worked perfectly before..

 

[borro]

 

[ConfusedR]

The ANC and their voters must be so proud of creating another "shithole African country"

 

[Kloofvreter]

Yay. Another African success story.

 

[Gazg]

It's OK..........we shall just suck the taxpayers dry again for any shortfall. Heh heh heh heh........