South Africa’s state-owned rail company, Transnet, said it needs nearly $670 million and five years to upgrade equipment to improve the performance of its main coal export line. During 2023, coal shipments plunged to a 30-year low of 48 million metric tons (mt) due to a lack of locomotives and spare parts. If it does nothing, Transnet warned that coal shipments from the mines to the Richards Bay Coal Terminal, could drop to as low as 38 million mt this year.
