Reuters reported that Exxaro Resources Ltd. (OTCMKTS:EXXAY), a South African company, has been awarded a permit to begin production at the Mayoko iron ore mine, located in the Republic of the Congo.
As quoted in the market news:
Medard Ndombi, a geologist at the Congolese ministry, confirmed that two other contracts had been signed on Jan. 29, covering rail transport to the coast and port infrastructure at Pointe-Noire.
Ndombi added that Exxaro could export up to 2 million tonnes of iron ore used for steelmaking this year and 10 million tonnes by 2017, as the port is expanded.
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