PAM - Palabora Mining Company Limited - Update on Brakspruit Rail Bridge
PAM
PAM
PAM - Palabora Mining Company Limited - Update on 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 BRAKSPRUIT RAIL BRIDGE INCIDENT
Palabora shareholders are referred to the announcements published on SENS on 21
September 2010 and 1 October 2010 regarding the derailment of a train which
impacted the Brakspruit bridge and the rail line between Phalaborwa and
Hoedspruit, in the Limpopo province on 20 September 2010.
Palabora is pleased to advise its shareholders that Transnet has completed
construction of the temporary Brakspruit bridge. According to Transnet, several
tests were performed during the past week on the bridge and they were all
positive which will allow limited train service to commence. Further monitoring
work is still in progress before the bridge will fully be released for service.
Palabora has recommenced the loading of trains with magnetite and vermiculite
for shipment to the ports in Richards Bay and Maputo and normal operating
capacity is scheduled to be reached during December. Over the next several
weeks, loaded trains will be railed over the bridge during daylight hours with a
Transnet inspector present while empty trains will be returned in mainly at
night. The temporary loading sites will remain operational on a stand-by basis
while the bridge "settles" and to allow for any adjustment that may need to be
made to the bridge infrastructure.
Transnet has further indicated that they will start construction of a permanent
bridge adjacent to the current bridge in 2011.
Palabora would like to thank all the citizens of Ba-Phalaborwa for their
patience and support during the last few weeks and to thank the local
municipality for their leadership and assistance.
Phalaborwa
18 November 2010
Sponsor:
Barnard Jacobs Mellet Corporate Finance (Pty) Limited
Date: 18/11/2010 17:02:01 Produced by the JSE SENS Department.
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