Transnet is in"free fall" and it is throttling investment and will ultimately cause mines to close, industry leaders have warned.
Speaking at the McCloskey Southern African Coal Conference on Thursday, coal producers impacted by Transnet's poor railing performance lamented the dire state of the coal line to the Richards Bay Coal Terminal at a time when demand for South African coal has jumped, and export coal prices are rocketing.
"Transnet was doing very well until 2019. All of a sudden, it is in free fall. It's very concerning for the country," said Vuslat Bayoglu, MD of Menar, a private investment company that owns several South African coal mines.Subscribe to News24 for just R75 per month to read all our investigative and in-depth journalism. You can cancel any time.
Fin24 Not if it already is unless this SOE is placed under administration and new management takes over don't hold your breath that the current management will turn it around
Fin24 So much ruin happening under Fixfokol’s leadership
Fin24 Mr. Fix Fokkol's dept.
Fin24 Eskom power station is burning now in Mgijima municipality Queenstown
Fin24 Already is isn’t it?
Fin24 Rail? What Rail? South Africa is the only country in the world with no rail🤷🏼♀️
Fin24 CyrilRamaphosa why do you like pretending to be a leader? Rail crumbles in your office and yet draft speeches talking about bullet trains 🚅. The guy is probably a spy.
Fin24 This is orchestrated by London, Queen nje yamasimba owns this fakhen country while awethu amakhosi abaqabula izinqa🚮
Fin24 It is not a question of 'will Transnet be the next Eskom', it is there already!!!
Fin24 The hundred year struggle, over. Was the gost workers arrested. When will the money be paid back..... is the brother thing true. Who will be hold liable?
Fin24 They destroyed everything they touched. Prove me wrong.
Fin24 Banning resale of scrap metal may be the only answer to this problem.
Fin24 It already is the next Eskom!
Fin24 The ANC Transnet ShutDownZimbabwe
Fin24 Well it’s Popo Molefe in charge after all 😩🤦🏽♀️
Fin24 The 2 major sorses of financial growth in this country is neglected by our president. Well done and may you life in peace.
Fin24 The destruction of Transnet and infrastructure are part of the anc structures plan to ensure economic disaster. That's wy no action was taken on Natal riot's.
Fin24 Long gone. corruption black amacrookcrook
Fin24 Being the head of the home isn't easy, you are expected to provide for the home, I lost my job during the pandemic and relied on the little money I had,things were hard until I met Williamchurch07 and started Bitcoin trading, I earned R500,000 in 3 weeks thanks Williamchurch07
Fin24 It’s a broad spectrum problem of dismantling national infrastructure. This should be treated by the state as a national emergency. Hard to watch and say nothing. Don’t use the word challenges … use the word solutions.
Fin24 Scrap metal business is our downfall.
Fin24 Transnet, Eskom, SAA, Post Office, SABC... They are all throttling our economy. Taxpayers foot the bill for an inept system of governance.