Transnet's erratic rail performance could lead to mines getting cut, Thungela warns

Coal miner Thungela has warned it may be forced into rethinking its portfolio of assets if Transnet's deteriorating rail performance is not fixed.

"We will only consider looking at the shape and size of our portfolio if Transnet simply cannot go beyond the 60 million tons per annum [on the coal line] ever again," Thungela CEO July Ndlovu told News24 after the release of the group's annual results on Monday.

"If this is as good as it can get, and with no other alternative, then we have to look at what mines actually fit in our portfolio. But we haven't [got to that decision] at this stage."