South Africa to increase iron ore export capacity

South Africa's state-owned transport utility Transnet has approved the capital expenditure needed to increase iron ore export capacity from the west coast port of Saldanha Bay. In a joint statement with iron ore producer Assmang, Transnet said that annual rail transport and throughput capacity at the port will be increased to 47 million tons from the current capacity of 41 million tons. Export tonnage allocation of Assmang, jointly controlled by African Rainbow Minerals Limited and Assore Limited, will increase to 10 million tons from the current 6 million tons. Transnet is also reportedly carrying out a feasibility study in order to expand Saldanha Bay's annual capacity to 67 million tons. The study is expected to be completed by March 2007.