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Black Mountain Mining|Exxaro Resources|Sishen Iron Ore Company|South African Rand|Gamsberg|Mining|Zinc|Iron Ore|Northern Cape
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Exxaro advises of lower headline earnings for first-half period

Exxaro Resources CEO Ben Magara

Exxaro Resources CEO Ben Magara

14th August 2026

By: Lumkile Nkomfe

Creamer Media Online Writer

     

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JSE-listed Exxaro Resources expects its headline earnings per share (HEPS) for the six-month period ended June 30 to decrease by between 18% and 23% compared with the HEPS for the first six months of 2025.

The expected earnings range for the six-month period ended June 30 is between R13.27 and R14.14, compared with R17.24 in the prior comparable period.

The company attributes the decrease to lower income from its equity accounted investments in mining operations such as the Sishen Iron Ore Company (SIOC) and Black Mountain Mining (BMM), both located in the Northern Cape.

Exxaro also highlights that the SIOC results were negatively impacted on by the strengthening of the rand against the dollar and above inflationary increases in key mining input costs compared with the prior period, largely reflecting the effects of the conflict in the Middle East.

Further, the company notes that the decrease in the equity‑accounted income from BMM was mainly driven by higher production costs and a delayed ramp-up of the Gamsberg zinc mining project in the Northern Cape.

Exxaro will publish its reviewed condensed financial results for the six-month period under review on or about August 20.

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

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