Cape Town - South African logistics group Transnet said on Wednesday that lower global iron ore prices had not hurt its rail business and it was on track to export a record 62 million tons of iron ore in 2015/16.
“We railed some 15.7 million tons against a budget (target) of 15.66 million tons in quarter 1. We are still in quarter 2 so there is no figure yet. But yes, we are on track (to reach record),” Mike Asefovitz told Reuters in an emailed response to questions.
Depressed global iron ore prices, which touched a 10-year low this month, have hammered miner Kumba Iron Ore, the main anchor client for Transnet Freight Rail along its Sishen to Saldanha iron ore export line.
Reuters