PAM
PAM
PAM - Palabora Mining Company Limited - Brakspruit rail bridge incident
PALABORA MINING COMPANY LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1956/002134/06)
JSE code: PAM ISIN: ZAE000005245
("Palabora")
BRAKSPRUIT RAIL BRIDGE INCIDENT
Palabora wishes to inform shareholders that in the early hours of Monday, 20
September 2010, a fully loaded Transnet train derailed and destroyed a bridge on
the branch rail line between Phalaborwa and Hoedspruit, in the Limpopo province
of South Africa ("the railway incident"). The rail line is the link between the
Palabora mining operations and the ports of Richards Bay and Maputo.
Fortunately no one was injured.
The railway incident will principally impact the shipment of Palabora`s
magnetite to the ports, which will consequently have an impact on sales revenue.
Palabora is in contact with Transnet and is assessing the extent of the impact
on its business and will be reviewing alternative options. Transnet has
indicated, based on a preliminary assessment that the bridge is likely to be out
of service for at least five weeks.
Palabora will continue to advise shareholders of the status of the railway
incident as more information becomes available.
Phalaborwa
21 September 2010
Sponsor:
Barnard Jacobs Mellet Corporate Finance (Pty) Limited
Date: 21/09/2010 08:52:01 Produced by the JSE SENS Department.
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