Runaway train derails BHP Australia – The Wall Street Journal

EDINBURGH — BHP, a multinational resources company listed in New York and the US, has been knocked by a bizarre incident in which one of its trains loaded with ore suddenly took off without a driver and sped 90km down the track before being forcibly derailed. The incident has raised questions about BHP safety systems and whether there have been breaches of rail safety laws. The Australian regulator is investigating. The runaway train could end up costing far more than the damages to the locomotive and tracks. An industry source has told Perth Now that BHP could lose 3-8 million tonnes of production depending upon how long its rail operations were offline. Industry sources, says Perth Now, have expressed bewilderment, suggesting several safety systems should have kicked in to stop the train including a so-called "dead man's switch" that must be pressed at regular intervals by the driver to keep the train operating. The Financial Times said the damage caused to the train — capable of carrying 35,000 tonnes of ore worth $2.6m at current market prices — had been "significant", raising questions about the wider impact on BHP's iron ore business and the market. The Wall Street Journal says the rogue train tale sounds like a movie plot. – Jackie Cameron

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