South Africa's Exxaro Coal Proprietary Limited (Exxaro) has announced that it has concluded the sale of its Mayoko iron ore project in Congo to Congolese company Sapro SA.
Exxaro acquired the Mayoko project in 2012. In June 2014, the company announced the impairment of the Mayoko project as a result of the collapse in iron ore prices, which is expected to continue for the foreseeable future. Following a commodity portfolio review and a number of internal and external commodity studies, the Exxaro board approved a decision in 2015 to divest from the project.