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Exxaro Resources earnings up

Johannesburg - South African diversified resources group Exxaro [JSE:EXX] reported an 11% rise in first-half earnings on Thursday as it lifted coal exports on the back of a weaker rand.

Exxaro's headline earnings per share came in at 793 cents for the six months to end June compared to 714c in the same period last year.

Exxaro, South Africa's second-largest coal producer, while exports had risen, trading conditions remained challenging and export prices in the period had fallen to $68 per tonne from $82 last year.

"Due to the international oversupply of both thermal and coking coal, coal prices are expected to remain under pressure for the rest of the year as there are still signs of additional supply coming onto the market," the company said.

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Rand - Dollar
18.92
-0.1%
Rand - Pound
23.90
-0.0%
Rand - Euro
20.44
+0.1%
Rand - Aus dollar
12.35
+0.0%
Rand - Yen
0.13
-0.1%
Platinum
909.30
+1.4%
Palladium
1,015.00
+1.3%
Gold
2,220.40
+1.2%
Silver
24.86
+0.9%
Brent-ruolie
86.09
-0.2%
Top 40
68,346
+1.0%
All Share
74,536
+0.9%
Resource 10
57,251
+2.9%
Industrial 25
103,936
+0.6%
Financial 15
16,502
-0.1%
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