On Thursday, 26 March 2026, Grindrod hosted a site visit to its Port of Maputo and Matola terminal in Mozambique, which forms part of its Ports and Terminal segment. The site visit provided valuable insights into GND’s business model and highlighted the region’s role as a strategic trade and export corridor within Southern Africa.
GND recently acquired the remaining stake in the Matola terminal, with plans to achieve throughput of 12 mtpa at a cost of $40m (R683m) in phase 1 of the terminal’s expansion. The Port of Maputo could also achieve volumes of 42 mtpa over the next 10 years. Coal accounted for 34.0%, magnetite 41.0%, and chrome and other minerals accounted for 25.0% of the commodities that GND handled in 2025. However, the commodity mix changes depending on demand and supply factors. Management has invested in increasing volumes through the port, with the Logistics segment being a key enabler in achieving this.
The region serves as a critical trade corridor within Southern Africa. Improving ferrochrome and chrome exports represents a key green shoot, with volumes expected to increase due to international demand. In addition, the lifting of force majeure in northern Mozambique could be a medium-term growth driver, as increased LNG-related activity could boost flows of bulk materials through the port.
The Matola Terminal (TCM) remains the driver of earnings and contributes 90% to Ports and Terminals’ EBITDA. The expansion project is expected to achieve major efficiencies and reduce bottlenecks. In addition, the planned port dredging campaign will allow larger vessels to dock at TCM, speeding up throughput at the quayside. The back of the terminal expansion addresses the lack of connection to the main conveyor network through mechanisation. Phase two of the expansion will modernise the front of the terminal with a new ship loader and an upgraded conveyor network, raising throughput to
15 mtpa.