Exarro May Fast Track Mayoko Iron Ore Deposit

Bloomberg reported Exxaro Resources Ltd. (TSX:EXX) says it may fast track its Mayoko iron-ore deposit in the Republic of Congo.

As quoted in the market news:

Exxaro, the second-largest South African coal miner, is reviewing the work done on the Mayoko deposit by African Iron Ltd., which it acquired for A$313 million ($321 million) in March, and will start rail and port negotiations with the Congolese government once the new plans are completed, Nkosi said in an interview in Pretoria yesterday. African Iron targeted first production by mid-2013 and output of 5 million metric tons a year, Macquarie First South Securities (Pty) Ltd. said in a research note last month.

Click here to read the full Bloomberg report.