Africa, Business, invesment, Invesments, news, Uncategorized, World Bank, World Bank Group

Africa News February 05, 2014 at 03:16PM

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VENTURES AFRICA – JSE-listed diversified mining firm, Exxaro, on Wednesday said it has won the contract to go ahead with development of Mayoko iron ore project in Congo (Brazzaville).

This came after the company and the government of the Republic of Congo (ROC) signed a final agreement to this effect.

The agreement between Congo and Exxaro about Mayoko project – known as the Mining Convention – is subject to the fulfilment of certain conditions.

These conditions will certainly be with regard to the execution of “definitive agreements for Exxaro’s access” to rail and port facilities, Exxaro said on Wednesday. Exxaro bought Mayoko from mining firm African Iron a couple of years back.

“Exxaro will be considering the Mining Convention together with these agreements within its governance processes and will provide further detailed information at its annual results presentation on Thursday, 6 March 2014,” Exxaro added.

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