It’s not lack of transformation, say miners at their wits’ end. Rather, bad planning and the state’s odious PFMA are to blame
What exactly is going wrong at Transnet Freight Rail , the largest business unit of the state-owned ports and rail company? Speaking to company executives at the Mining Indaba earlier this month, there was reticence to go into specifics but it appears an institutionally-wide dysfunction, large and small, is adding up to an enormous cost for the mining sector and the fiscus.
Analysts estimate Thungela will suffer an opportunity cost on about 900,000t of coal owing to TFR’s inability to rail it to Richards Bay port...A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and TimesLive Premium.
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