Exxaro lifts Grootegeluk rail shipments 50%
EXXARO Resources has recorded a roughly 50% improvement in direct coal railings from its Grootegeluk mine in the Waterberg coalfield in Limpopo to Richards Bay, CEO Ben Magara…
Exxaro flags up to 23% earnings fall on lower Sishen, BMM income
EXXARO Resources expects first-half earnings to fall by as much as 23% after lower contributions from its investments in Sishen Iron Ore Company (SIOC) and Black Mountain Mining…
Exxaro Resources is breaking from its iron shackles
THERE has always been a tight correlation between the share prices of Exxaro and Kumba Iron Ore. That’s because Exxaro’s 20% stake in Kumba subsidiary Sishen Iron Ore Company…
SA coal exports flat in 2025 despite Transnet progress
COAL railed for export from South Africa so far this year implied total volumes for 2025 of 56.4 million tons, less than last year’s 56.9Mt. Commenting in his pre-close…
SA iron ore exports could face margin squeeze
A PILLAR of Kumba Iron Ore’s business case is that about two-thirds of its 35 to 37 million tons in annual production is sold as lumpy iron ore. Steelmakers pay a premium for…
Exxaro targets “first” manganese deal this year
EXXARO Resources said on Thursday it hoped to convert “interesting conversations” with South African manganese miners into an investment during this year. “We have been engaging…
New Exxaro boss Ben Magara commits to battery metals
EXXARO Resources said on Thursday it had appointed the former Lonmin boss Ben Magara as its new CEO, effective April 1. Magara, currently a non-executive director at Exxaro,…
Exxaro pays special dividend while M&A search goes on
EXXARO Resources on Thursday said it would pay a special dividend taking the final payout for its 2023 financial year ended December to R15.82 per share. The special dividend of…
Exxaro earnings to fall on lower realised coal export sales
EXXARO Resources said headline share earnings for the 12 months ended December would fall by between 16% and 30% owing to lower realised export coal sales. The company said in…
Exxaro books another six months of logistical constraint with coal sales down 7%
ANOTHER stuttering performance from state-owned entities Eskom and Transnet Freight Rail (TFR) in the first half of 2023 has capped the ability of Exxaro, one of South Africa’s…
Exxaro prunes payout as discerns TFR will have another year of below par coal exports
LAST year’s booming export coal market boosted Exxaro Resources’s revenues by 41% and profits by 78% compared with 2021, but the group has cut its final dividend and reduced its…
SA coal miners to post impressive 2022 earnings but signs are price bonanza is over
THE logistical nightmare that is Transnet Freight Rail couldn’t keep listed Thungela Resources and Exxaro Resources down last year with both coal producers set to post strong…
Exxaro suffers R11bn opportunity cost as year-on-year coal exports decline 32%
TRANSNET Freight Rail (TFR) was on course for export deliveries to Richards Bay Coal Terminal (RBCT) of just over 54 million tons (Mt), said Exxaro Resources. The…
Exxaro results show how badly the SA coal exporters are being hobbled by Transnet
Booming coal profits more than made up for the drop in Exxaro’s income from its iron ore investment in the six months to end-June but the group’s results could have been so much…
Exxaro warns of 18.4% undershoot in coal exports as revived Atlantic trade powers pricing
EXXARO Resources warned 1.4 million tons (Mt) of thermal coal exports were at risk in terms of its previously guided 7.6Mt in sales target for the 2022 financial year. This was…
Russia sanctions opens door to new European thermal coal market, says Exxaro’s Mgojo
SANCTIONS on Russia in the wake of its invasion of Ukraine could herald a shift in Europe’s energy market that could see it turn to South Africa for high quality coal, said…
Exxaro CEO Mgojo to step down year early leaving diversification to designate Nombasa Tsengwa
EXXARO Resources CEO, Mxolisi Mgojo is to relinquish his role a year early paving the way for CEO in waiting Nombasa Tsengwa to lead the company from August. In terms of…
Exxaro reduces export sales guidance 35% owing to “alarming” slump in TFR deliveries
EXXARO Resources expected to report an 8% decline in coal sales for 2021 owing to ongoing logistical constraints and the sale of its Exxaro Coal Central (ECC) operations which…
Laudable, lofty, but is Exxaro’s breakout growth plan risking ten years of coal cash?
THE last time Exxaro Resources publicised a shift in strategy it provided so little detail that investors heavily sold the firm’s shares. That was in 2018 when CEO Mxolisi Mgojo…
SA coal miners to “make good money” for 10 years despite freight opportunity costs
COAL was one of the few commodities that didn’t record significant price gains in the 12 months ended June surveyed by auditing firm PwC’s ‘SA Mine’ report which measures the…