Exxaro’s earnings climb more than a fifth, despite iron and rail hit

Exxaro, one of Eskom’s largest coal sources, says record coal prices helped headline earnings climb more than a fifth in its half year to end-June, despite a rail-induced slump in export volumes, as well as lower earnings from its iron ore interests.

Group revenue rose 48% to R22.3bn to end-June as the miner cashed in on record coal prices, with headline earnings up 22% to R8.29bn, boosted as export prices for its coal more than tripled to $262 a tonne...A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

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