Exxaro Resources reported a 29% decrease in headline earnings in six months to the end of June, as export coal prices halved after Europe managed to secure sufficient gas and coal stocks during its winter season.
Exxaro and other coal players benefited handsomely in the prior comparable period when coal prices surged in the wake of Russia’s invasion of Ukraine, though rail capacity constraints prevented SA’s producers from fully taking advantage of the boom in prices.... There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an
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Exxaro’s headline earnings drop nearly 30% as coal prices fallCoal revenue fell 16% to just more than R18bn, driven mainly by lower export prices, as well as lower sales volumes for both domestic sales
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