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    ABX   CA0679011084

BARRICK GOLD CORPORATION

(ABX)
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Cyber attack disrupts major South African port operations

07/22/2021 | 12:04pm EDT

(Adds comment from government)

JOHANNESBURG, July 22 (Reuters) - A cyber attack has disrupted container operations at the South African port of Cape Town, an email seen by Reuters on Thursday said.

Durban, the busiest shipping terminal in sub-Saharan Africa, was also affected, three sources with direct knowledge of the matter told Reuters.

Cape Town Harbour Carriers Association said in an email to members, seen by Reuters: "Please note that the port operating systems have been cyber-attacked and there will be no movement of cargo until the system is restored."

Transnet's official website was down on Thursday showing an error message.

Transnet, which operates major South African ports, including Durban and Cape Town, and a huge railway network that transports minerals and other commodities for export, confirmed its IT applications were experiencing disruptions and it was identifying the cause.

It declined to comment on whether a cyber attack caused the disruption. The sources, who asked not to be named because they are not authorised to speak to the press, said an attack occurred early on Thursday.

The state-owned company already suffered major disruptions to its ports and national freight rail line last week following days of unrest and violence in parts of the country.

In response to a question on whether the cyber attack on Transnet was linked to the unrest, a government official said: "We are investigating, and when that is confirmed or dispelled we are going to make that announcement.

"Currently we are treating it as an unrelated event."

The latest disruption has delayed containers and auto parts, but commodities were mostly unaffected as they were in a different part of the port, one of the sources said.

It will also create backlogs that could take time to clear.

Transnet said its container terminals were disrupted while its freight rail, pipeline, engineering and property divisions reported normal activity.

Most of the copper and cobalt mined in the Democratic Republic of Congo and Zambia, where miners such as Glencore and Barrick Gold operate, use Durban to ship cargo out of Africa. (Reporting by Zandi Shabalala and Tanisha Heiberg; additional reporting by Helen Reid and Alexander Winning, editing by Susan Fenton, Pratima Desai, Barbara Lewis and David Evans)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
BARRICK GOLD CORPORATION -0.70% 22.84 Delayed Quote.-21.24%
DOW JONES AFRICA TITANS 50 INDEX -0.12% 511.21 Delayed Quote.-2.97%
GLENCORE PLC 0.36% 330.5 Delayed Quote.41.85%
S&P AFRICA 40 INDEX -0.44% 165.74 Delayed Quote.-3.54%
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Financials (USD)
Sales 2021 12 455 M - -
Net income 2021 2 190 M - -
Net cash 2021 825 M - -
P/E ratio 2021 14,9x
Yield 2021 4,36%
Capitalization 32 092 M 32 012 M -
EV / Sales 2021 2,51x
EV / Sales 2022 2,32x
Nbr of Employees 17 500
Free-Float 99,4%
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Number of Analysts 22
Last Close Price 18,04 $
Average target price 29,09 $
Spread / Average Target 61,3%
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Managers and Directors
Dennis Mark Bristow President, CEO & Non-Independent Director
Graham Patrick Shuttleworth Chief Financial Officer & Senior Executive VP
John Lawson Thornton Non-Independent Executive Chairman
Gustavo A. Cisneros Independent Director
Joseph Brett Harvey Lead Independent Director
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