19th July, 2022: Chinese Stainless Steel Scrap Prices Surged on Index


As per rough estimates, it has lost nearly 742 kilometres of cable till date this financial year.

SEATTLE (Scrap Monster): Johannesburg-headquartered South African rail, port and pipeline company, Transnet SOC Ltd. welcomed the government’s decision to impose a six-month ban on scrap metal exports out of the country. The ban on exports would play a major role in the country’s fight against rising metal theft incidents, it noted.

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According to the company, its rail network infrastructure, comprising mainly of more than 30,400 kilometres long track, has been one of the primary targets of scrap metal thieves. The theft of infrastructure has not only caused delays and possible derailments, but also cost the state-owned entity billions of rands in economic loss. As per rough estimates, it has lost nearly 742 kilometres of cable till date this financial year.

The recent move by the government would make it difficult to sell stolen infrastructure, which consequently may curb theft acts by criminals. The deployment of additional security task teams and drones have led to significant reduction in cable thefts.

Transnet called upon the government to introduce a more permanent legislative solution to effectively address the issue of scrap metal theft in the country. Other state-owned companies such as Eskom and PRASA (Passenger Rail Agency of South Africa) too joined hands in pressing for a better and more effective solution.

 





Image and article originally from www.scrapmonster.com. Read the original article here.

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