Africa Mining: SA Transnet reports record iron-ore exports in 2015/16

South African logistics group, Transnet, said on Wednesday lower global iron-ore prices had not hurt its rail business and it was on track to export a record 62-million tonnes of iron-ore in 2015/16 as quoted by SA news agency Miningweekly.

“We railed some 15.7-million tonnes against a budget (target) of 15.66-million tonnes in quarter one. We are still in quarter two 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 ten-year low this month, has hammered miner Kumba iron-ore, the main anchor client for Transnet Freight Rail along its Sishen to Saldanha iron-ore export line.(Source: Reuters, Miningweekly)