As a result of the current weakness in the ferrochrome industry and the lack of demand for semi-coke products, JSE-listed miner Exxaro expects its headline earnings for the year ended December 31 to drop by between 65% and 73% – or R3.15-billion t-o R3.53-billion – year-on year. The company also attributed the losses to the expected decrease in equity-accounted income from investments owing to lower commodity prices, including iron-ore, mineral sands and pigment, as well as non-recurring items recorded by these investments in 2015.
