Minerals Council demands urgent action on Transnet's 'tragic decline', wants CEO Portia Derby axed

The Minerals Council South Africa demanded last month that Transnet take urgent action - including firing CEO Portia Derby - to arrest the decline of the state-owned freight and logistics company.

In a confidential letter sent by the council's president Nolitha Fakude to Transnet chairperson Popo Molefe on 4 December, seen by News24, the council called for the board to take over management of Transnet as part of its calls for drastic action to arrest an operational decline.

Transnet's poor rail performance is causing billions in lost revenue for bulk commodity miners, while issues at certain Transnet ports are also adversely affecting mining and other industries.