Dirty coal

Finweek English Edition - - COMPANIES & INVESTMENTS -

Amining per­mit is the only ob­sta­cle stand­ing in the way of Exxaro Re­sources spend­ing R2.9bn ($320m) on the Repub­lic of Congo’s (RoC’s) Mayoko iron ore project, an as­set it bought for the same amount last year fol­low­ing the buy-out of Aus­tralian-listed African Iron.

It’s a cru­cial project for Exxaro as it seeks to di­ver­sify its risk from coal min­ing – an area of its com­mod­ity mix the prospects of which are in­creas­ingly oc­cluded by the ac­tiv­i­ties of an­other African repub­lic, South Africa.

The min­ing in­dus­try is yet to re­spond

Sipho Nkosi

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