[miningmx.com] – A LOWER contribution from equity accounted investments would rub out the gains achieved in Exxaro Resources’ coal division for the 2015 financial year, the Johannesburg-listed group said in a trading statement.
Headline earnings for the 12 months ended December 31 would be about 20% lower year-on-year, it said. Exxaro has just under 20% in Kumba Iron Ore, and a 43.98% stake in Tronox, a mineral sands business listed in the US.
The company was likely to report a marginally higher net operating profit from its coal operations in the year owing to higher export coal sales volumes at lower average
rand selling prices, and higher Eskom sales due to the Medupi power station ramp-up in
2015, off-set by the non-recurring shortfall income recorded in 2014, it said.
