South Africa's Exxaro Coal Proprietary Limited (Exxaro) has announced that it will focus on finalizing agreements on the usage of existing port and rail facilities with regard to the Mayoko iron ore project in Congo. This is expected to be completed in the first half of 2014. It is also expected that the prefeasibility study on phase 2 will be completed in the fourth quarter of 2014.
The company will not allocate any more funds for the Mayoko project in 2014 until the rail and port agreements are finalized. Exxaro has already invested ZAR 2 billion ($188.2 million) in the Congo iron ore project.