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Exxaro Resources Ltd (EXXJ.J)

EXXJ.J on Johannesburg Stock Exchange

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Latest Key Developments (Source: Significant Developments)

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

ArcelorMittal South Africa says Wim de Klerk to join as CEO on July 1
Friday, 10 Jun 2016 06:00am EDT 

ArcelorMittal South Africa Ltd : Amendment to start date of CEO . Wim de Klerk's appointment will be effective on 01 July 2016 .Wim will vacate his current position of FD of Exxaro Resources Limited on 30 June 2016.  Full Article

Exxaro Resources says FD to leave earlier than previously stated
Thursday, 9 Jun 2016 09:32am EDT 

Exxaro Resources Ltd : Has agreed to termination date of 30 June 2016, instead of date of 31 august 2016 for seperation of WA de Klerk from the co .PA Koppeschaar will be succeeding WIM with effect from 1 July 2016.  Full Article

Exxaro Resources Ltd may cut up to 565 jobs-union - Reuters News
Tuesday, 19 Apr 2016 02:27am EDT 

Exxaro Resources Ltd:Exxaro plans to cut up to 565 office jobs as it tries to cut costs in the face of depressed prices and the loss of a major contract, the Solidarity trade union said on Tuesday - RTRS."Exxaro served a Section 189 on us on Monday indicating that they will cut jobs at head office and support and shared services," Solidarity General Secretary Gideon du Plessis told Reuters, referring to the regulatory procedure companies have to follow before they proceed with lay-offs.Solidarity is affected because it represents mostly skilled workers. Exxaro was not immediately available to comment.Du Plessis said the proposed job cuts were austerity measures triggered by the global market slowdown which has hit coal prices and also the loss of a contract to supply power utility Eskom with coal from Exxaro's Arnot mine.South Africa's mining industry has been shedding jobs as costs soar and prices fall, angering unions and the government. The country's unemployment rate is around 25 percent and accelerating inflation has been eroding household incomes.  Full Article

Exxaro Resources Ltd - S.Africa's NUM says members at Exxaro Arnot mine to march - Reuters
Monday, 30 Nov 2015 09:50pm EST 

Exxaro Resources Ltd:Members at Exxaro Arnot mine to embark on a march - RTRS.Decision influenced by Eskom's decision not to renew contract with Exxaro Arnot. More than 1,700 employees to lose their jobs if Eskom doesn't renew contract - RTRS.  Full Article

Exxaro Resources Ltd - South African union signs wage deal to end coal strike - Reuters
Monday, 12 Oct 2015 08:00pm EDT 

Exxaro Resources Ltd:South Africa's National Union of Mineworkers (NUM) signed a wage deal with coal producers on Tuesday, ending a strike by the sector's biggest union that started over a week ago, workers and mining companies said - Reuters.The strike by around 30,000 NUM members had affected operations at Exxaro, Glencore, and Anglo American, and some smaller producers - Reuters."The parties have now concluded an agreement after a lengthy and dynamic process. It wasn't easy. All of us had to steer the ship through the rocky waters," said Peter Bailey, NUM's chief negotiator in the coal sector - Reuters.The deal will see the lowest paid workers receive wage increases of up to 1,000 rand ($75) per month in the first year, and another 7.5 percent raise in the second year - Reuters.The NUM had initially sought a 50 percent rise for its lowest paid workers, who make about 6,000 rand ($445) a month in basic pay, before scaling those back demands - Reuters.Higher earning employees will receive increases of between 5 percent and 7.5 percent in both years - Reuters.However, South Africa's Association of Mineworkers and Construction Union (AMCU), which represents less than 1 percent of South Africa's coal mining sector workers, rejected the wage offer, a union official said - Reuters.  Full Article


Anglo American to exit stake in South African miner Exxaro

British miner Anglo American Plc said on Wednesday it would sell its stake in South African diversified miner Exxaro Resources Ltd and use the proceeds to reduce debt.