Page 9 - AfrElec Week 33 2022
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AfrElec COAL AfrElec
South African energy
producer Exxaro expects
coal to fire its H1 2022 profit
SOUTH AFRICA SOUTH African energy producer Exxaro The increase will be despite a shortage of
Resources (Exxaro) expects its half-year profit locomotives, poor maintenance and cable theft
to increase by up to 32% due to high coal prices that have limited state-owned rail firm Transnet’s
and sales, Reuters reports. capacity to haul minerals such as coal and iron
Despite rail logistics challenges bedevilling to ports, costing mining companies significant
bulk cargo movement in the country, the news revenue. Some companies are having to rely on
agency reported on August 17, the miner is con- road haulage, which costs up to four times more
fident that headline earnings per share (EPV) than if they used rail.
-- the main profit measure for South African Johannesburg-listed Exxaro, which is
companies -- will be between ZAR32.11 ($1.92) invested in about five coal mines and two wind
and ZAR35.93 ($2.14) in the six months to and solar farms in the country, expects to release
June 30, compared with the ZAR 27.22 ($1.63) half-year results on August 18.
recorded during the same period last year.
Week 33 18•August•2022 www. NEWSBASE .com P9
