Transnet to expand iron ore line

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TRANSNET plans to almost double capacity on its iron ore rail line as the state-owned operator looks beyond a slump in prices for the steelmaking ingredient and bets mining firms will raise production. “Post this commodity crisis, iron ore will grow,” Transnet Freight Rail chief executive

Siyabonga Gama said last week. “So we will have a dedicated channel. Our philosophy is that we must create the capacity ahead of demand.” Transnet Freight Rail planned to raise capacity on the line between mines in the Northern Cape and the port of Saldanha to as many as 105 million tons a year from about 60 million tons, he said. Iron ore has fallen 31 percent this year. – Bloomberg

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