I've got the report, but don't want to copy and paste for legal...

I've got the report, but don't want to copy and paste for legal reasons. Almost all of it relates to Transnet rather than RES:

- Transnet are putting the finishing touches on an MOU with RES, to be finalised by the end of the week (as per quotes in ASX announcement)
- Transnet has a big maintenance backlog, but by the end of this year after this clears it will start investing in growth capital expenditure. Clearing this maintenance backlog has helped Transnet produce record rail volumes in September.
- This growth capex has been requested by many players, mainly exporters from Witbank/Richards Bay, who have asked for 60Mtpa in extra capacity (CEO of Transnet suggests 22Mtpa more likely), but also Waterberg developers
- They are aiming to free up rail capacity by taking general freight (eg non-coal) through another rail line that passes through Swaziland
- Some concern from Transnet watchers that it doesn’t have the funding required to expand rail capacity. Also acknowledgement of claims of high rates from Coal of Africa Ltd
- Port cost also allegedly high. Notes that there is a wikileaks cable suggesting Transnet’s ports was losing users.
- Criticisms were rebuffed by Transnet management, who said the higher costs reflect the significant upgrades ploughed into the infrastructure resulting in better service.

Most of the article related to Transnet management talking up their expansion plans rather than being RES related.