Johannesburg, South Africa — MININGREVIEW.COM — 21 February 2011 – Exxaro Resources “’ one of South Africa’s largest coal miners “’ says its full-year profit is likely to have doubled as the global economic recovery pushed commodity prices higher.
In a statement released here, the company said headline earnings per share had likely totalled between 1 390 and 1 532 cents in the year to end-December “’ an increase of as much as 110% on the previous year.
The results were boosted 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 last week, lifted by stronger sales and higher prices, and said it expected strong results ahead.