Rio Tinto (RIO.AX) was recovering approximately 30 wagons of a self-driving iron ore train that derailed in Western Australia on Monday. Analysts warned the mishap could impede company shipments, but no one was wounded.
In late 2018, BHP Group (BHP.AX) derailed a runaway iron ore train in the same region. Saturday’s incident was the second.
“The incident involved a loaded train, with approximately 30 wagons derailed,” a representative said in an email. It happened at 6.30 p.m., roughly 20 km (12 miles) from Dampier in the Pilbara.
“The regulator has approved site recovery and work to recover derailed wagons has begun.”
David Lennox of Sydney financial management Fat Prophets, which holds Rio shares, said the event likely tore up the track on one of the miner’s two export ports.
Rio exports from Dampier and Cape Lambert in northern Western Australia. Rio’s customer shipments and rail itineraries were unclear.
Analysts suggested Rio could cover shipments from port stockpiles until the track was cleared, which usually takes less than a week.
Rio, which was investigating the incident, fell 1.2%, along with other iron ore miners.
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