Reuters reported that South African diversified miner Exxaro Resources plans to expand into nickel and copper mining in Africa.

Mr Sipho Nkosi CEO of Exxaro said that it would spend its own cash and raise additional capital from banks and seek equity partners to develop projects in coal, minerals sands, nickel and copper mining and to expand its interests in the iron ore business.

He added that "We have taken a view that if there is some opportunity on copper and nickel, we will get involved in that. We have got to go outside South Africa for iron ore, copper and nickel ...it will be within the Africa continent."

Mr Nkosi said that the company, which is developing major coal reserves in South Africa's Waterberg area in the Limpopo province, expected the Richards Bay Coal Terminal to double its port capacity within the next few years from an estimated 6.3 million tonnes at the end of 2009. He added that "Our plans are, probably in the next five-six years, to double that one."

Mr Nkosi said that Exxaro had started discussions to develop the Mafutha coal mine as a joint venture with South Africa's petrochemicals group Sasol, and around ZAR 12 to ZAR 13 billion could be spent on the project.

(Sourced from www.reuters.com)