Exxaro's Nkosi says iron ore output in 2013 Miningmx | Thu, 11 Apr 2013 07:49
"We will get our mining convention and start mining this year,"
"It is a learning curve for the country, for any investor. Once we have gone through that loop, anyone who comes after us is probably going to find things much easier," Nkosi told Reuters."
"Wim de Klerk, Exxaro Resources' CFP, said the company would spend $320m developing the Mayoko project on receipt of the mining permit. Of that amount, $120m will be on the railway, and the port infrastructure at RoC’s Pointe Noire and $180m on the mine itself, including equipment."
"He declined to comment on whether Exxaro would be interested in buying Equatorial Resources, which has a project adjacent to Mayoko, but he did say that the two companies often talked about a possible collaboration, notably in infrastructure."
This could turn out quite beneficial for EQX. Exxaro fighting through the bureaucracy of the ROC and investing in the rail and port while EQX is putting together it's Scoping Study. IMO this all looks quite good.
EQX Price at posting:
76.0¢ Sentiment: Buy Disclosure: Held
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