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Real Economy News in Real Time
R/€ = 16.82 Change: 0.00
R/$ = 14.32 Change: 0.00
Au 1199.53 $/oz Change: -8.69
Pt 829.00 $/oz Change: -7.99
 
 
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South Africa's iron-ore railway to be shut down for annual maintenance

12th September 2018 BY: Reuters

The main railway line along South Africa's iron-ore corridor will be shut down for annual maintenance from September 26 to October 2, State-owned freight logistics firm Transnet said on Wednesday.

The railway line that stretches up to 861 km (534 miles) from iron-ore mines at Sishen in the Northern Cape to the Saldanha port in the Western Cape is South Africa's main link for iron-ore exports.

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"There will be no traffic flowing on the line during this period as this is a pre-planned exercise following consultations with customers," Transnet's Freight Rail unit said in a statement.

The maintenance work will involve replacing old and obsolete equipment as part of plans to ramp up capacity on the line, Transnet said.

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Railed iron ore, sourced mainly from Kumba mines, totalled 57.2-million tonnes last year versus a target of 60-million tonnes as mine production and other technical problems hurt rail volumes, the logistics firm said.

Kumba reported a sharp drop in its interim earnings in July, and flagged problems with the rail network, which like other state-run sectors of the economy has suffered from mismanagement and underinvestment. 

EDITED BY: Reuters
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