Equatorial, Exxaro Resources agree to share Congo support infrastructure
PERTH (miningweekly.com) – Iron-ore developer Equatorial Resources has reached a cooperation agreement with iron-ore major Exxaro Resources on logistics and operational support infrastructure in the Republic of Congo.
Exxaro is developing the Mayoko-Lekoumou project, which lies immediately adjacent to Equatorial’s Mayoko-Moussondji project, which has a resource of some 767-million tons, grading 31.9% iron.
Equatorial told shareholders on Friday that the cooperation agreement related to the use of the Leghala Airstrip, the shared use of chartered flights, as well as Equatorial’s sample preparation laboratory and medical support facilities.
The two companies would also join forces to coinvest in regional community development initiatives.
The cooperation agreement was aimed at improving efficiencies and reducing the cost of services at both projects, with Equatorial identifying opportunities for development synergies, specifically related to the refurbishment, upgrade and shared use of rail and port transport infrastructure that services the Mayoko projects.
Meanwhile, Equatorial noted that the company had recently completed a scoping study on the Mayoko-Moussondji project, based on the indicated and inferred hematite resource of 102-million tons, at 40.6% iron.
The scoping study would be released by the end of the quarter.
A review of the scoping study would now assess how best the company’s development could be adapted to align with Exxaro’s project development activities, particularly in relation to the design and operational plans for the existing rail infrastructure network and port facilities that are available to service both projects.
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