The Minerals Council of South Africa urges for a speedy resolution to the Transnet strike

Credit: Minerals Council South Africa

The minerals council South Africa urges for a speedy resolution to the strike, which is affecting, Transnet’s rail and port network. As the country’s industry body has said today in a statement, the transnet strike is costing the country, businesses, and the mining sector billions of rands in lost trade, taxes and economic activity, damaging an already fragile economy, and affecting negatively the whole of South Africa.

As it is said, the Minerals Council understands the challenges facing Transnet’s employees in term of the rising cost of living, but it urges the trade unions and Transnet to find a rapid resolution to the strike in the national interest.

The Minerals Council, whose members account for more than 80% of Transnet’s rail business and 50% of the group’s income, is concerned that the strike is damaging exports and imports, threatening not only mining companies but the country’s fragile economy at a time when 44% of people are unemployed.

According to their estimates, bulk mineral exporters are losing South African Rand 815 million worth of exports per day because they are unable to rail and load 357,000 tonnes of iron ore, coal, chrome, ferrochrome and manganese onto ships daily. On average, South Africa exports about 476,000 tonnes of bulk minerals a day worth South African Rand 1.06 billion.

As the industry´s body warned, the damage caused by the strike is not just the immediate impact, but the longer term consequences of having to catch up on delayed exports and imports, which will have a ripple effect on business and broader society.

Source: Minerals Council South Africa

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