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Transnet's underperformance crippling mining industry.

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GUEST - Peter Major, director of mining at Modern Corporate Solutions

Troubled state-owned rail and ports operator Transnet swung to a full-year loss of R5.7 billion for the year ended 31 March 2023, significantly down from a profit of R5 billion for the previous year.

The group blamed lower rail volumes, which it said were largely affected by torrential rains in KwaZulu-Natal province during the first half of 2022 that led to severe floods. It also blamed operational inefficiencies as well as hefty operating expenses amid an inflationary trading environment.
4 Sep 2023 4PM English South Africa Business News · Investing

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