Exxaro to write down RoC asset for R5.8bn

Diversified mining giant Exxaro said on Wednesday that the pre-tax impairment of the company’s investment in the Mayoko iron-ore project, in the Republic of Congo (RoC), had been concluded, with the impairment loss amounting to R5.8-billion. This amount included an impairment of the original acquisition cost of R2.9-billion, the carrying amount of property, plant and equipment of R1.1-billion and the project-related costs capitalised to date of R1.7-billion.