South Africa to Lure Miners With $40 Billion Railways Boost

10 February 2012

Bloomberg Business Week | February 10, 2012

South Africa is ramping up spending on railways and roads to lure mining investment as the government fights off calls from within the ruling African National Congress to nationalize the country’s mines.

State-owned rail and port operator Transnet SOC Ltd. will spend 300 billion rand ($40 billion) over seven years to expand capacity on iron ore, coal and manganese export lines, President Jacob Zuma told lawmakers in his state-of-the-nation speech in Cape Town yesterday.

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