Exxaro Wins Permit to Produce Iron Ore at Mayoko Mine

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.

Click here to read the full Reuters report.