[miningmx.com] — EXXARO Resources said on Thursday its full-year profit likely doubled as the global economic recovery pushed commodity prices higher.
Exxaro, one of South Africa’s largest coal miners, said headline earnings per share likely totalled between 1,390 and 1,532 cents in the year to end-December, or an increase of as much as 110% on the previous year.
The results were helped by the economic recovery, which helped drive up commodities prices, although some of the benefits were offset by the stronger local currency.
Most South African miners continue to benefit from higher commodity prices.
Impala Platinum, the world’s second-biggest platinum producer, posted a 62% jump in first-half profit on Thursday, lifted by stronger sales and higher prices and said it expects strong results ahead.
