SA risks economic 'collapse' as Transnet strike hits ports with billions on the line: business | Fin24

While Transnet has maintained that its terminals at ports have not come to a standstill, logistics businesses have warned of a catastrophic economic fallout if operations at the state-owned logistics giant's ports in Durban and Cape Town face prolonged suspension.

Meanwhile, Anglo American subsidiary, Kumba Iron Ore, warned that its production will be hit by the strike at Transnet. The company warned that disruptions would have an estimated impact of approximately 50 000 tons per day on production for the first week and approximately 90 000 tons per day thereafter.

"There are terminals that are owned by Transnet, and terminals that are owned by private sector operators. The current strike is between Transnet and its unions. This does not include private sector-run terminals. Mavuso said a strike at Transnet was"disastrous" not only to direct imports like the medical sector, and exports, like the mining sector but to the entire, interconnected economy.

"Given the economic situation we are in, this is an option to seriously consider. Without ports operating the whole country could collapse."

_Business Business knows sqat . Let's wait for the oracle. THE MINISTER OF TRANSPORT. THE KNOW IT ALL.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Transnet Strike | 30,000 jobs at risk in berry industryProducers in the berry industry say each day ports do not operate, puts 30,000 jobs at risk. A strike was the end of SAA. This will end in tears as well. Fire every single Transnet striker! Maybe Trasnet should be employ migrate labours who actually want to work. I hate being held to ransom.
Source: eNCA - 🏆 49. / 51 Read more »