Related Articles
Top Stories
May 25 2012 13:58
The costs of the first phase of the Gauteng Freeway Improvement Project have increased significantly to almost R90bn, according to a report.
May 25 2012 19:13
Uncertainty over the future of the euro zone returned to push the rand down against the dollar.
May 25 2012 11:36
The JSE has identified and stopped "incorrect" trades from one of its members, and will reverse the trades and lower the session's total value after the close.
Johannesburg - Logistics group Transnet's iron ore rail line which was shut down on Friday after a train derailment will stay closed until Wednesday, a company spokesman said on Monday.
"The line still remains closed and the estimated time of opening is Wednesday," said Sandile Simelani, adding that the company would only start working out losses from the closure after an investigation into the incident.
"We will need to conduct an inquiry to establish what happened. We will also need to clear the iron ore (from the rail track) before the line can be opened, but I can't tell when this is going to happen," Simelani told Reuters on Friday.
Transnet said exports of iron ore in the 2010 financial year rose to 44.7 million tonnes, in line with customer commitments, compared with 36.8 million tonnes in the previous financial year.
- Reuters