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Exxaro Resources Ltd (EXXJ.J)

EXXJ.J on Johannesburg Stock Exchange

8,780.00ZAc
5 Dec 2016
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Latest Key Developments (Source: Significant Developments)

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

Exxaro Resources Ltd - South African miners' union says revised pay offer could end coal strike - Reuters
Thursday, 8 Oct 2015 08:00pm EDT 

Exxaro Resources Ltd:South Africa's National Union of Mineworkers will consult members at a Sunday meeting on a revised wage offer from coal producers, union officials said on Friday, raising hopes that an end to a six-day strike was in sight - Reuters.Following two days of talks the Chamber of Mines, which represents six coal companies, presented an improved offer which it said was well received by the unions - Reuters.The new offer could see the lowest paid workers receive wage increases of up to 1,000 rand ($74.99) per month in year one and hikes of up to 7.5 percent in the second year - Reuters.Employees in the higher categories could receive increases of between 5 percent and 7.5 percent in both years - Reuters.The NUM union 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 that back to a demand of 1,000 rand for lower tier earners - Reuters.Negotiations had stalled earlier on Friday, with NUM blaming resources giant Glencore for bringing talks to end the strike to a halt.About 30,000 NUM members downed tools on Sunday evening at mines run by Glencore, Anglo American, Exxaro and some smaller producers, threatening supplies of coal to state-run power utility Eskom.  Full Article

Exxaro Resources Ltd - South African coal miners begin strike - Reuters
Saturday, 3 Oct 2015 08:00pm EDT 

Exxaro Resources Ltd:South African coal miners began a strike on Sunday after wage talks collapsed last week, disrupting the sector that produces the country's electricity and exports coal to Europe and Asia - Reuters.The National Union of Mineworkers (NUM), which organised the strike, said last week that it would begin from 1800 local time (1600 GMT). About 30,000 workers could take part - Reuters."The strike has just started. As expected our workers have downed tools," NUM spokesman Livhuwani Mammburu told Reuters.Two smaller unions which mostly represent skilled workers and supervisors accepted the coal companies' offers last week. NUM's arch rival, the Association of Mineworkers and Construction Union (AMCU), has not accepted the offer but its membership levels are small - Reuters.The Chamber of Mines, which represents Glencore, Anglo American Coal and Exxaro, said last week that the coal producers had raised their offer to increase wages by up to 8.5 percent for the lowest-paid workers, from 8 percent previously - Reuters.  Full Article

Exxaro Resources Ltd - South Africa coal companies revise wage offer for second time - Reuters
Monday, 14 Sep 2015 08:00pm EDT 

Exxaro Resources Ltd:South African coal companies have revised their wage offers for a second time, offering up to an 8 percent increase for the lowest paid, a union official said on Tuesday - Reuters.The Chamber of Mines, which represents Glencore, Anglo American Coal and Exxaro, raised its offer after unions on Tuesday rejected increases offered last week of between 6 and 7 percent for the lowest paid workers - Reuters.Companies had initially offered wage increases of 5.5 to 6.5 percent - Reuters.The chamber has now offered 8 percent in the first year and 7.5 percent for year two and three for the lowest paid workers," an official from the Solidarity union told Reuters - Reuters.Workers want pay increases of up to 15 percent and the National Union of Mineworkers, the biggest in the sector, is seeking a 50 percent rise for its lowest paid workers, who make 6,000 rand ($445) a month in basic pay - Reuters.The offer for more highly skilled workers was raised to 7 percent in the first year to 7.5 percent in the following two years, from the initial offer of 4.5 to 5 percent - Reuters.The talks come at a time when producers are closing some shafts in the wake of lower coal prices and, if mediation fails, it could set the stage for potential strikes - Reuters.  Full Article

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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.