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.
Transnet is among state firms that were hollowed out by mismanagement under former President Jacob Zuma.
Coal, iron ore and chrome companies missed out on about R35 billion rand last year from contracted volumes that couldn’t reach ports, the Minerals Council South Africa said. It transported 39.3 million tons on the rail network last year, but wants to raise output to fully utilize its annual rail capacity that should be 44 million tons.
“If that means we need to put a capital contribution or partner in some way, we are very open to that possibility,” he said in an interview in Johannesburg.
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