South African coal miner Exxaro Resources Ltd., said in its 2020 interim financial report on August 13 that its revenue increased 18% year on year to 14 billion rand in the first half year.
The company's financial state and operation remained robust despite global COVID-19 pandemic's hurt on South African economy since early this year, said the firm's CEO Mxolisi Mgojo.
In January-June, its core earnings before interest, tax, depreciation and amortisation (EBITDA ) came in at 3.93 billion rand, jumping 40% year on year, while its cash generated by operations jumped 47% on the year to 4.73 billion rand.
Exxaro Resources produced 1.50 million tonnes of coal in the first half year, mainly contributed from Belfast and Grootegeluk mines, up by 7% year on year. Coal sales climbed up 10% to 2.18 million tonnes.
Its coal exports increased to 5.9 million tonnes during the same period from 4.3 million tonnes a year ago, with average export price down to $52/t from $54/t a year ago.
(Writing by Tammy Yang Editing by Jessie Jia)
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