Fortescue says iron ore cars derailed at Western Australia operations

Reuters | January 2, 2024 | 10:53 am Top Companies Australia Iron Ore

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Autonomous truck at the Solomon Hub. (Image courtesy of Fortescue Metals Group.)

Australia’s Fortescue Ltd said on Wednesday that multiple iron ore cars had been derailed from the company’s tracks on Saturday at its Western Australia operations.

Local media earlier reported that the Fortescue rail line into Port Hedland, Australia’s iron ore export epicentre, remained out of action on Tuesday.

“The incident did not impact December or H1 shipped tonnes. Normal rail operations will be up and running tomorrow (Thursday),” a Fortescue spokesperson told Reuters.

Shares in the world’s fourth-largest iron-ore maker dipped 1.1%, at A$29.06, by 2315 GMT in tandem with a nearly 1% fall in the broader mining sub-index.

The mining giant did not say how many wagons were involved in the derailment.

The company said it had started an investigation into the cause of the incident.

No injuries were reported, Fortescue added.

(By Roushni Nair; Editing by Jonathan Oatis, Mark Potter and Pooja Desai)