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EXX - Exxaro Resources Limited - Trading statement for the six months ended

Release Date: 04/08/2011 07:06
Code(s): EXX
Wrap Text

EXX - Exxaro Resources Limited - Trading statement for the six months ended 30 June 2011 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 SIX MONTHS ENDED 30 JUNE 2011 Shareholders are advised that Exxaro will release its reviewed financial results for the six months ended 30 June 2011 on 18 August 2011. Consolidated net operating profit for the group is expected to show a strong improvement when compared with the corresponding period in 2010. The group results were positively impacted by strong demand for its products and generally higher commodity prices for the period, partially offset by a stronger average realised local currency and Australian dollar to the US dollar. The coal business is expected to deliver higher operating results than the corresponding period in 2010 primarily due to higher export volumes at higher international selling prices. It is expected that the mineral sands business will report a higher consolidated net operating profit than the corresponding period in 2010 mainly due to higher commodity prices supported by continued disciplined cost management. It is anticipated that the base metals business will report an operating loss due to operational challenges adversely impacting on volumes and profitability at the Zincor refinery in addition to an impairment of R439 million of the carrying value of the Zincor assets. Headline earnings per share, which exclude the impact of the impairment of the carrying value of the Zincor assets, for the six months ended 30 June 2011, are expected to be between 961 cents and 1 055 cents, representing an increase of between 41% and 55% when compared with the comparative period in 2010. Attributable earnings for the six months ended 30 June 2011 are expected to be between R2 885 million and R3 237 million. This equates to attributable earnings per share of between 829 cents and 930 cents, representing an increase of between 19% and 34% when compared with the corresponding period in 2010. The forecast 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 the Listings Requirements of the JSE Limited. Editors note: Exxaro is one of the largest South African based diversified resources companies, with interests in the coal, mineral sands, base metals and iron ore commodities. www.exxaro.com Enquiries: Wim de Klerk Finance Director Tel: + 27 12 307 4848 Mobile: +27 82 652 5145 Email: wim.deklerk@exxaro.com Pretoria 4 August 2011 Sponsor Deutsche Securities (SA) (Proprietary) Limited Date: 04/08/2011 07:06:01 Supplied by www.sharenet.co.za Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.

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