South African miner African Rainbow Minerals said it would sign an agreement later this year with Transnet for the logistics group to transport 14 million tons of its iron ore per year.

ARM, a diversified miner with interests in manganese, iron ore, platinum and chrome, said it had already signed a 20-year agreement with Transnet's freight rail arm for the transport of 10 million tons of iron ore annually.

But ARM said it would like to increase that transport capacity in order to boost its exports of the metal.

The miner said in February that Assmang, its 50-50 joint venture with Assore, would increase its iron ore exports from 2012.

The company said it was still in talks with Transnet and other industry players over plans to expand the iron ore rail line beyond the already planned expansion to 60 million tonnes. The line can currently handle up to 47 million tons.

ARM also has a joint venture copper project with Vale of Brazil in Zambia's Copperbelt region. (Reuters)