adminPretoria last week, referring to plans to deliver a revised production schedule in July.
Exxaro, South Africa’s second-largest coal company, plans to boost profitability by expanding into iron ore at the Mayoko project and elsewhere after a failed bid for Australian producer Territory Resources Ltd.
The coal miner’s holding in Kumba Iron Ore Ltd.’s Sishen mine added 4,5 billion rand (US$582 million) to after-tax profit in 2011, or 58 percent of the total.
“We’re going to look beyond this one over a period of time for other opportunities,” Nkosi said.
“Australia will always be a very good destination, and so is South America.”
Exxaro is reviewing work at Mayoko by African Iron Ltd., which it bought for A$313 million (US$321 million) in March, and will negotiate with Congo on access to rail and port facilities and upgrade costs once revised plans are complete, he said.
The port at Pointe-Noire will have to be expanded to handle an estimated 40 million to 50 million tonnes of ore annually for Exxaro, Xstrata Plc sand Equatorial Resources Ltd., Nkosi said. — Bloomberg.
Online Reporter
- Herald
- June 3, 2026
- 17 views
CAB3 tabled in Parliament
Farirai Machivenyika and Nyore Madzianike CONSTITUTIONAL Amendment Bill Number 3, tabled in the National Assembly yesterday, seeks to introduce reforms that will reinforce constitutional governance and strengthen the country’s democracy,…
