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Exx - Exxaro Resources - Trading Statement For The 12 Months Ended 31 December

Release Date: 18/02/2010 08:36:02      Code(s): EXX
EXX - Exxaro Resources - Trading statement for the 12 months ended 31 December  
2009                                                                            
EXXARO RESOURCES LIMITED                                                        
Incorporated in the Republic of South Africa                                    
(Registration Number: 2000/011076/06)                                           
JSE share code: EXX                                                             
ISIN code: ZAE000084992                                                         
ADR code: EXXAY                                                                 
("Exxaro")                                                                      
TRADING STATEMENT FOR THE 12 MONTHS ENDED 31 DECEMBER 2009                      
Shareholders are advised that Exxaro will release its audited financial         
results for the 12month period ended 31 December 2009 on 25 February 2010.      
Consolidated net operating profit for the group will be significantly lower     
than for the corresponding period in 2008 as the recessionary conditions had    
an adverse impact on coal export prices and the demand for mineral sands        
products.  Export revenue at weaker average exchange rates were offset by       
currency losses on repatriation of foreign currency proceeds, as well as        
unrealised foreign currency losses on the revaluation of monetary items in      
foreign currency based on the relative strength of the local currency at 31     
December 2009.                                                                  
Exxaro`s coal business will reflect a decrease of between 25% and 30% in net    
operating profit for the period under review when compared to the               
corresponding 12 months ended 31 December 2008 mainly due to the softer         
domestic market conditions for metallurgical coal and steam coal which was      
partially offset by higher export volumes and higher local power station        
volumes and prices.                                                             
The mineral sands business, in which all three business operations recorded a   
net operating loss, will report a decrease in net operating profit of about     
R1,7 billion when compared to the corresponding 12 months ended 31 December     
2008 mainly due to an impairment of R1,4 billion of the carrying value of the   
assets of the KwaZulu-Natal operation as communicated to shareholders on 1      
December 2009.  Lower net operating profit for the Namakwa Sands operation,     
due to reduced demand, was offset by improved operating results from the        
Australia Sands operation for the 12 months ended 31 December 2009, albeit      
still at a loss, resulting from increased production performance and higher     
sales and prices for both mineral and pigment products. This was despite        
operating results being adversely impacted by the relative strength of the      
Australian dollar.                                                              
While still reporting a small loss, the operating results of the base metals    
business for the 12 months ended 31 December 2009 were better that those        
achieved in the corresponding period in 2008.                                   
Headline earnings per share for the 12 months ended 31 December 2009 are        
expected to be between 700 cents and 740 cents representing a decrease of       
between 34% and 30% when compared to the corresponding period in 2008.          
Attributable earnings for the 12 months ended 31 December 2009, which are       
adversely impacted by the impairment, are expected to be between R975 million   
and R1 040 million.  This equates to attributable earnings per share of         
between 283 cents and 301 cents representing a decrease of between 72% and 70%  
when compared to the corresponding period in 2008.                              
The financial information on which this trading statement is based has not      
been reviewed nor reported on by Exxaro`s external auditors.  This statement    
is issued in compliance with section 3.4 (b) of the Listings Requirements of    
the JSE Limited.                                                                
Editors note:                                                                   
Exxaro is one of the largest South African based diversified resources          
companies, with interest in the coal, mineral sands, base metals and iron ore   
commodities.                                                                    
Enquiries:                                                                      
Wim de Klerk                                                                    
Finance Director                                                                
Tel: +27 12 307 4848                                                            
Mobile: +27 82 652 5145                                                         
Email: wim.deklerk@exxaro.com                                                   
Pretoria                                                                        
18 February 2010                                                                
Sponsor                                                                         
Deutsche Securities (SA) (Proprietary) Limited                                  
Date: 18/02/2010 08:36:01 Supplied by www.sharenet.co.za                     
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