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Strike hits South Africa's iron ore shipping port

Saldanha, South Africa's largest iron ore shipping port, has almost come to a halt due to the strike.

Strike hits South Africa's iron ore shipping port

Saldanha, South Africa's largest iron ore shipping port, has almost come to a halt due to the strike.

Employees of Transnet SOC Ltd., the South African state-owned logistics company that operates most of the country's ports, are refusing to work since the company did not accept the wage demand.

According to a letter from Transnet, on Monday about 10% of workers were at the Saldanha terminal north of Cape Town, which can export 57 million tons of iron ore per year.

The workers' protest, which started with the largest union Transnet on October 6 and spread to more organizations, has reduced the number of workers to less than 13% in most bulk and bulk terminals.

The company said , "Transnet continues to offer delivery services to all terminal operators as well as Transnet port terminals where they may be suitable for staffing levels. The situation differs from terminal to terminal in terms of accessibility" as in response to questions.

Coal and iron ore miners warned that the prolonged strike will reduce exports and production.

The shares of Thungela Resources Ltd., South Africa's largest supplier of thermal coal, fell 5% while the shares of Kumba Iron Ore Ltd. fell 0.3%.

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