Transnet Scraps Coal Terminal After Making Up With BHP Billiton
This article is for subscribers only.
Transnet SOC Ltd., South Africa’s state-owned ports and rail operator, has scrapped plans to build a new export facility near the Richards Bay Coal Terminal after resolving a dispute with RBCT’s largest shareholder, BHP Billiton Ltd.
In negotiations with BHP, the transport company won 4 million metric tons of extra capacity for smaller, black-owned mines at RBCT, the world’s biggest coal-export terminal, Transnet Chief Executive Officer Brian Molefe said in an interview. That doubles the allocation for junior miners in South Africa, which is pushing companies to increase black participation in the economy to make up for apartheid.