TitanForge Business Plan › Section 14 › Logistics & Infrastructure Strategy

Logistics is the plan’s centre of gravity. Every rand of mining and
smelting revenue in this plan depends on tonnes moving to port, and
South Africa’s recent history demonstrates that this cannot be taken for
granted: national rail volumes fell by roughly a third between 2018 and
2023, and manganese producers resorted to trucking ore over 700 km to
Gqeberha at ruinous cost and road damage. TitanForge’s answer is
ownership: 35 Mtpa of rail capacity against a group requirement of
approximately 20 Mtpa at steady state, and 20 Mtpa of terminal capacity
against a group export requirement of approximately 14 Mtpa. The surplus
is not idle insurance — it is sold to third parties at market tariffs,
converting the country’s logistics deficit into a revenue line.

• Access strategy: corridor slots secured under
  the third-party access regime, with tariff escalation contractually
  linked to the Rail Economic Regulator’s determinations.
• Terminal strategy: brownfield concession and JV
  interests alongside incumbent operators, avoiding greenfield port
  consenting timelines of 7+ years.
• Redundancy: dual-port routing (Gqeberha/Ngqura
  and Saldanha options for manganese; Richards Bay for coal and alloys) so
  no single port outage strands more than 40% of export volume.
• Third-party revenue: roughly 40% of division
  revenue by Y6, contracted take-or-pay where possible, providing
  counter-cyclical ballast to commodity revenue.

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