From ConTeXt wiki

< Text Editors

iTeXMac is available at Sourceforge.

If you would like to use iTeXMac with Hans's minimal TeX distribution, then you need to edit the generic project file. I entered the following as a replacement "Typeset" script (TeX > Show Project > ConTeXt):

source /Users/Shared/tex/setuptex /Users/Shared/tex
texexec --pdf ${iTMInput}.${iTMInputExtension}

...where /Users/Shared/tex is the location of the root of the minimal trees...