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Exxaro Resources Ltd (EXXAY.PK)

EXXAY.PK on OTC Markets Group

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Latest Key Developments (Source: Significant Developments)

Exxaro updates BEE transaction
Monday, 26 Jun 2017 01:06am EDT 

June 26 (Reuters) - Exxaro Resources Ltd :Update on unwind of Exxaro's existing BEE transaction, terms of replacement BEE transaction.Exxaro, MS333, Industrial Development Corporation and two special purpose vehicles entered into agreements.A framework agreement setting out framework within which MS333 unwind and consequential implementation of replacement bee transaction will take place.Entered into a relationship agreement detailing terms and restrictions of replacement bee transaction over transaction term.  Full Article

Exxaro sees 21 pct rise is H1 coal capex, reviewing portfolio
Monday, 26 Jun 2017 01:05am EDT 

June 26 (Reuters) - Exxaro Resources Ltd :Recorded a year-to-date lost-time injury frequency rate (LTIFR) of 0,19 compared to 0,09 reported in FY16.Towards end of 2H16 and beginning of 1H17 persistent strength in commodity prices and a strong usd were recorded.Commodity price correction became evident during 1H17 from highs recorded towards end of 2H16.Coal business continued to be resilient with a slight increase of 4,7 pct in production volumes forecast.Expect coal capex to increase by 21 pct, mainly due to timing of expansion capex at Grootegeluk and Belfast.Expenditure for FYE17 is expected to be 10 pct lower than guidance provided in March 2017, mainly because of timing of sustaining capex.Good progress has been made finalising replacement bee transaction and and expects to make an announcement soon.Exxaro - reviewed coal portfolio as part of our optimisation programme, with specific focus on closure and/or divesting from assets that do not meet our expected value.Exxaro envisages commencing with this process in 4Q17.Expect an improvement in operational results of coal business for 2H17.Group's interests in Black Mountain Mining Proprietary Limited and Chifeng Refinery remain non-core and exxaro intends to divest from these investments.  Full Article

Exxaro Resources Ltd reports FY HEPS of R13,02 per share
Thursday, 9 Mar 2017 12:05am EST 

Exxaro Resources Ltd : Final dividend of 410 cents per share . FY heps of R13,02 per share . FY consolidated group revenue increased by 14% to R20 897 million . Says supportive market conditions are expected in 2017 for most of exxaro's chosen coal market segments compared to 2016 .Expects improvement in operational results of coal business in 2017.  Full Article

Exxaro Resources to begin to monetise its stake in Tronox to focus on core activities
Wednesday, 8 Mar 2017 09:00am EST 

Exxaro Resources : Exxaro announces intention to begin a path to monetise its stake in Tronox in order to focus on core activities . Will explore available alternatives to monetise its stake in Tronox in staged process over time . Exxaro intends to apply proceeds from any future sales to, amongst others, Exxaro's core operations and to fund capital commitments . Tronox has announced a definitive agreement to acquire titanium dioxide business of cristal for usd $1.673 billion of cash and stock . As Tronox's largest shareholder, Exxaro intends to vote its shares in favour of proposed transaction . Upon implementation of proposed transaction, Exxaro's 44% stake would be diluted to approximately 33% . Deal expected to proceed in stages over time in an efficient and organised manner and would likely not begin until second half of 2017 .J.P. Morgan is acting as exclusive financial advisor to Exxaro with respect to tronox and cristal transaction.  Full Article

Exxaro Resources sees FY HEPS 1,173 cents-1,365 cents
Thursday, 2 Mar 2017 03:03am EST 

Exxaro Resources Limited : Trading statement for the year ended Dec. 31, 2016 .FY HEPS expected to be between 1,173 cents - 1,365 cents per share versus 457 cents per share reported in 2015.  Full Article

Exxaro says Anglo South Africa Capital disposes stake in co
Monday, 5 Dec 2016 09:12am EST 

Exxaro Resources Ltd :Anglo South Africa Capital Proprietary Limited has disposed of their entire direct shareholding in company.  Full Article

Anglo American raises about 3 bln rand from sale of Exxaro stake
Thursday, 1 Dec 2016 01:30am EST 

Anglo American Plc : Anglo American has agreed to sell its c.35 million ordinary shares, representing a 9.7 pct interest at a price of 87 rand per share . Main Street 333 Proprietary has agreed to sell approximately 17 million ordinary shares .Sale of Anglo American's shares raised gross proceeds of about 3 billion rand as sale price represented 10 percent discount to Nov. 30 close.  Full Article

Exxaro says to unwind existing black empowerment transaction
Tuesday, 22 Nov 2016 10:00am EST 

Exxaro Resources Limited : Unwind Of Exxaro's existing BEE transaction, terms of replacement BEE transaction and cautionary announcement . Detailed terms for MS333 unwind are still to be negotiated and finalised . Exxaro will repurchase and cancel a certain number of Exxaro shares to value of 3.52 bln rand from MS333 . MS333 will use proceeds from repurchase to settle funding liabilities, which are expected to total 3.5 bln rand as at Jan. 31 .Repurchase will be funded from a combination of internal cash resources and contributed tax capital of Exxaro.  Full Article

Exxaro Resources six-month diluted HEPS rises
Thursday, 18 Aug 2016 01:11am EDT 

Exxaro Resources Ltd : Reviewed condensed group interim financial statements and unreviewed production and sales volumes information for six-month period ended 30 June 2016 . Six month revenue at 9.762 billion rand versus 8.324 billion rand . Diluted HEPS from continuing operations for six months ended June 30 at 341 cents versus 336 cents a year earlier . Cost savings - R110 million labour bill savings since vsp., R150 million reduction in procurement costs .Interim dividend of 90cps, up 38 pct.  Full Article

Exxaro sees H1 HEPS between 6 pct lower and 2 pct higher
Friday, 5 Aug 2016 06:00am EDT 

Exxaro Resources Ltd : Trading statement for the six-month period ended 30 june 2016 . Half year HEPS are expected to be between 284 cents per share (6 pct decrease) and 310 cents per share (2 pct increase) . Attributable earnings for six months ended June 30 are expected to be between 14 mln rand(1 pct increase) .Consolidated net operating profit is expected to increase by between 175 mln rand (10 pct increase) and 359 mln rand(20 pct increase) mainly due to higher coal sales volumes.  Full Article

Exxaro's profits jump with rise in coal prices

March 9 South African miner Exxaro reported a rise in annual profits on Thursday, thanks to a surge in coal prices, saying it expected the market to continue to strengthen this year.