Coal and heavy-minerals miner Exxaro Resources expects domestic thermal coal sales in the first half to end-June to have risen 11%, but says export sales have fallen 6%. In an interim update from Exxaro finance director Riaan Koppeschaar, the JSE-listed miner said on Thursday it expected strong domestic demand to continue to underpin growth in the second half of 2018. The company expects coal production to rise 1.7% during the period, to 23.5-million tonnnes, even as capital expenditure falls 18%. One reason for this was the delayed development of its Thabametsi mine. Barring any shock, further marginal increases were anticipated in global industrial production, trade and fixed investment during 2018, to support global GDP growth of about 3.4%, compared with 3.3% in 2017, the miner said.
Continued strong economic activity during the first half of 2018, and the momentum of cost inflation in key commodity producing countries, remained supportive for commodity markets, it said. T...
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