Transnet has suspended operations on South Africa's main iron ore export line following a train derailment early Sunday, an industry source told OPIS.
Transnet's Iron Ore Corridor, which stretches 861 kilometers from South Africa's main mines to the Saldanha Bay export terminal, was shut after the derailment of a train fully loaded with iron ore from Kumba Iron Ore's Sishen mine.
The volume of the material impacted by the derailment wasn't immediately clear. The industry source said recovery teams were working on clearing the line, but it wasn't clear when operations would resume.
Transnet and Kumba officials weren't immediately available for comment.
The Iron Ore Corridor has a rail capacity of about 67 metric tons per year but targeted only 54 tons last year. In 2022, it transported 55 tons.
Kumba, South Africa's largest iron ore exporter and a subsidiary of Anglo American, recently revised its production outlook for the next two years to 35 to 37 metric tons per year from 37 to 39 tons per year previously due to the ongoing rail performance issues.
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(END) Dow Jones Newswires
03-11-24 0736ET
