|
PAM
PAM
PAM - Palabora Mining Company Limited - Update on The 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")
UPDATE ON THE BRAKSPRUIT RAIL BRIDGE INCIDENT
Following the announcement released on the 21st of September 2010 regarding the
train derailment that occurred on the 20th of September 2010 on the Brakspruit
bridge where a loaded Transnet train destroyed a bridge on the branch rail line
between Phalaborwa and Hoedspruit, in the Limpopo province of South Africa,
shareholders are advised of the following actions between Palabora , Foskor
(Proprietary) Limited ("Foskor") and Transnet Freight Rail ("Transnet") in order
to assess the extent of the damage and to develop and implement transportation
alternatives.
According to Transnet the preliminary assessment indicates the bridge is likely
to be out of service for at least six to eight weeks. Palabora and Foskor
continue to work with Transnet to define the rectification work required to
rebuild the damaged bridge and repair the rail tracks. Currently, Transnet has
secured the site, is removing all debris and sourcing the necessary materials
and spares that will be used to rebuild the bridge.
In addition, alternative measures have been developed to minimize the impact of
the incident to the Palabora and Foskor operations. With the assistance of
Transnet, Palabora and Foskor have inspected alternative stations and railway
sidings in order to bypass the damaged bridge to continue transportation of
their materials to the ports. The parties have agreed that Palabora will make
use of the Gravelot Station for the loading of magnetite for shipment to Maputo
Port, whilst Foskor will use the Mica Station to load their phosphate for
shipment to Richards Bay Port. Palabora will also use the Hoedspruit Station for
the loading of all vermiculite that is in bulk and in containers.
The magnetite and phosphate will be transported by road to these sidings at a
rate of up to three hundred and fifty (350) trucks per day. A disaster
management committee and a disaster response team have been established by
Palabora and Foskor and the local municipal authorities for the duration of the
bridge repair to ensure all emergency response facilities are in place and that
safety for the citizens of the impacted communities and motorists is given the
highest priority.
Furthermore, Palabora and Foskor are working with Transnet to ensure that
environmental and community concerns at the loading locations are monitored and
addressed as required.
Phalaborwa
01 October 2010
Sponsor:
Barnard Jacobs Mellet Corporate Finance (Pty) Limited
Date: 01/10/2010 12:02:54 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
| Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information. | |||||||||||||
| Other Profile Group sites: FundsData Online (unit trust data) | Profile Group corporate site | |||||||||||||
| [ Terms of Use | Privacy Policy | PAIA manual | FAQs/Help | Site Map | © Copyright Reserved 2026 ] | |||||||||||||
|
|||||||||||||
