Name and Location
Mayoko iron-ore project, Republic of Congo.

Client
The project is owned by DMC Iron Congo and controlled by JSE-listed resources group Exxaro Resources.

Project Description
The Mayoko project is located in the Niari Prefecture about 300 km north-east of Pointe-Noire, on the Atlantic Ocean. It represents a near-term development opportunity in an emerging iron-ore province, with an existing underused, heavy-haulage mineral railway passing within 2 km of the main prospect that terminates at the Port of Pointe-Noire.

The project currently has a Joint Ore Reserves Committee-compliant mineral resource of 121-million tons of iron-ore, consisting of a hematite cap of direct shipping ore (DSO) at 55% iron and beneficiable DSO at 41% iron.

The intention is to develop the project in phases, resulting in the eventual production and export of ten-million tons a year of iron-ore by 2016.

Value
Not stated.

Duration
Exxaro is targeting first export from the project in 2013.

Latest Developments
Opencast mining contractor and construction materials supplier Buildmax has, through its subsidiary, Diesel Power Congo, been awarded a $25.8-million openpit quarrying and mining contract at the Mayoko iron-ore project.

Diesel Power Congo, which is in the process of being established, will be responsible for the establishment and mining of a conventional hard-rock openpit operation.

In addition to owning and funding the DMC mining plant, Diesel Power Congo will also assume all other risks and rewards relating to the mining contract, including plant maintenance and productivity.

The company has entered into a separate supply agreement with DMC and the first tranche of assets was loaded and shipped from the Port of Durban on February 28.

Key Contracts and Suppliers
None stated.

On Budget and on Time?
Too early to state.

Contact Details for Project Information
Exxaro Resources, tel +27 12 307 5000 and fax +27 12 323 3400.