No independent valuation yet made of TNPA

The regulator appears to have no funding available to undertake the scheduled task, which has therefore been currently sidelined.

The lack of such an independent valuation is often given as one of the key reasons South Africa’s port tariffs for container and ro-ro traffic are among the highest in the world. Instead, the regulator has to rely on figures given to it by TNPA, which does not use a universally agreed methodology to produce this.

Separately, Richards Bay Coal Terminal (RBCT) is not now to have a new R15bn coal terminal aimed specifically for traffic from junior miners. Transnet Group chief executive Brian Molefe explained that this was because a new deal had been struck with export majors who will provide capacity of around 15m tons to junior miners at RBCT’s phase-five expansion and a further four million tons as part of the Quattro black economic empowerment scheme. RBCT can handle up to 91m tons of coal.

The change in mindset is being seen as a victory for Mr Molefe, who had previously heavily criticised RBCT policy.