Exxaro has released guidance on earnings for 1H14. Coal operations have performed in line YoY while income from associates is also expected to be in line YoY. In addition, Exxaro announced the results of a further study on the Mayoko iron ore project which has deemed it unviable. As a result, the project has been placed on hold. Furthermore, the company failed to reach a definitive agreement with the government of the Republic of Congo over the use of the railways and port. As a result, the company will be forced to take an impairment on the project.