Thanks a lot, it works. Will there be any side-effect on normal uses of context?
Definitely. TEXFONTMAPS is the path to the various font mapping files for dvips, (x)dvipdfm(x) and pdfTeX. I would strongly advise against setting that variable for normal use of the minimals. What you could do without tweaking with TEXFONTMAPS, is to put ps2pk.map in some directory inside fonts/map in the minimals, together with the dvipng binary. Best in texmf-local, for this is the location for local changes. But then, you of course need to make sure that the necessary fonts are available in the minimals, etc. Since you have TeX Live installed, your best bet is probably to use the minimals with the special TEXFONTMAPS setting only for ConTeXt + dvipng, and otherwise use the minimals only, or TeX Live only. Arthur