Kumba says Transnet has reopened Iron Ore Export Channel


JOHANNESBURG, December 10 – Iron producer Kumba said on Monday state logistics company Transnet had reopened the Iron Ore Export Channel (IOEC) on December 7 and operations on the rail line had resumed.

Transnet earlier this month declared force majeure — unforeseeable circumstances that prevent a party from fulfilling a contract — on its railway operations contract with Kumba Iron Ore after a road accident closed the IOEC rail line.

“Transnet has informed Kumba that the newly constructed temporary bridge passed all technical assessments and that the IOEC line is now open for business,” the mining company said on Monday.

Kumba said its expectation of meeting the lower end of its 2018 guidance, as announced on July 24 was unchanged. Kumba’s 2018 guidance is 43-44 Mt for total production and 42-44 Mt for total sales.

– African News Agency (ANA)