South African miner Exxaro Resources Ltd’s earnings for 2009 dropped 70% to R1.02bn. ($129m.) as all three mineral sands businesses reported operating losses.
The group, which also mines coal and base metals, was hit by R1.44bn. ($183m.) in impairments due to scrapping plans for the proposed Fairbreeze minsands mine in KwaZulu-Natal (IM 1 December 2009: Exxaro drops SA minsands plan).