By: Martin Creamer
8th August 2012
JOHANNESBURG (mining weekly) – Diversified miner Exxaro Resources is targeting next year for the first export of iron-ore from its new Mayoko project in the Republic of Congo (RoC).
CEO Sipho Nkosi says that Exxaro has completed the review of the work done by the previous owner, African Iron.
“We’ve given promises to the Congolese government that we’ll start delivering iron-ore next year,” Nkosi tells Mining Weekly Online in the video interview attached to this article.
The JSE-listed company has arrived at a number of ways of fast-tracking the project, which is situated 2 km from the rail network, which is currently used several times a week to transport passengers.
The rail maintenance that is required is not seen as a stumbling block and discussion is under way with the RoC transport authorities on the use of the Pointe-Noire port.
Nkosi regards early exportation as an important way of putting the rail, port and market before pressing ahead with the production ramp-up to 10-million tons of iron-ore a year by 2016.
Exxaro, which has been interacting at top political level, is pleased with RoC’s current political stability.
Although the standing rule is that the State be given 10% of the shares in the project free of charge as a “free carry”, additional special contributions mining companies make sometimes qualify them for a discounted percentage.
Other mining companies are also working in the RoC on iron-ore projects, including the London-listed Xstrata with its Zanaga project, which is located in the RoC’s Lékoumou district, to the north-east of Pointe-Noire.
The 120-million-ton Mayoko project is regarded as the country’s most advanced iron-ore project and has a bulk-ore allocation for export to European and Eastern destinations from early 2014.
Adjoining Mayoko is the Ngoubou-Ngoubou prospect that also formed part of Exxaro’s deal with African Iron.
In South Africa, Exxaro has 20% of Kumba Iron Ore’s Sishen iron-ore mine in the Nothern Cape.
Edited by: Creamer Media Reporter
8th August 2012
JOHANNESBURG (mining weekly) – Diversified miner Exxaro Resources is targeting next year for the first export of iron-ore from its new Mayoko project in the Republic of Congo (RoC).
CEO Sipho Nkosi says that Exxaro has completed the review of the work done by the previous owner, African Iron.
“We’ve given promises to the Congolese government that we’ll start delivering iron-ore next year,” Nkosi tells Mining Weekly Online in the video interview attached to this article.
The JSE-listed company has arrived at a number of ways of fast-tracking the project, which is situated 2 km from the rail network, which is currently used several times a week to transport passengers.
The rail maintenance that is required is not seen as a stumbling block and discussion is under way with the RoC transport authorities on the use of the Pointe-Noire port.
Nkosi regards early exportation as an important way of putting the rail, port and market before pressing ahead with the production ramp-up to 10-million tons of iron-ore a year by 2016.
Exxaro, which has been interacting at top political level, is pleased with RoC’s current political stability.
Although the standing rule is that the State be given 10% of the shares in the project free of charge as a “free carry”, additional special contributions mining companies make sometimes qualify them for a discounted percentage.
Other mining companies are also working in the RoC on iron-ore projects, including the London-listed Xstrata with its Zanaga project, which is located in the RoC’s Lékoumou district, to the north-east of Pointe-Noire.
The 120-million-ton Mayoko project is regarded as the country’s most advanced iron-ore project and has a bulk-ore allocation for export to European and Eastern destinations from early 2014.
Adjoining Mayoko is the Ngoubou-Ngoubou prospect that also formed part of Exxaro’s deal with African Iron.
In South Africa, Exxaro has 20% of Kumba Iron Ore’s Sishen iron-ore mine in the Nothern Cape.
Edited by: Creamer Media Reporter
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