[miningmx.com] – Exxaro Resources posted a 39% decline in interim profit owing to low coal prices and the write-down of its New Clydesdale colliery, an asset the company is closing.
Headline earnings, which exclude one-time items, declined to 7.12 cents a share from R11.62 in the same period a year earlier, Bloomberg News reported.
“Trading conditions for the coal business continued to be challenging,’ the company said. “The financial and operational results for the remainder of 2013 are expected to be impacted by continued low coal prices and rand-dollar exchange-rate volatility.’
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