Johannesburg, South Africa — MININGREVIEW.COM — 08 October 2010 – South African diversified miner African Rainbow Minerals (ARM) has revealed that it will be signing an agreement later this year with Transnet for the logistics group to transport 14Mt of its iron ore per year.
Confirming this in a statement here, ARM “’ which has interests in manganese, iron ore, platinum and chrome “’ said it had already signed a 20-year agreement with Transnet’s Freight Rail arm for the transport of 10Mt of iron ore annually. But the company said that it would like to increase that transport capacity in order to boost its exports of the metal.
ARM said in February that Assmang Limited “’ its 50-50 joint venture with Assore “’ would increase its iron ore exports from 2012.
The company added that it was still in talks with Transnet and other industry players over plans to expand the iron ore rail line beyond the already planned expansion to 60Mtpa. Currently the line can handle up to 47Mtpa.
ARM also has a joint-venture copper project with Vale of Brazil in Zambia’s Copperbelt region.