Exxaro interested in Optimum coal export quotas

Chief Executive Mxolisi Mgojo made the remarks during a results presentation after the company reported a 65% drop in full-year profit.

Exxaro Resources. Picture: Facebook.

JOHANNESBURG - South African miner Exxaro Resources said on Thursday that it is interested in buying the coal export quotas belonging to the Optimum Coal Mine, which is in business rescue proceedings.

Chief Executive Mxolisi Mgojo made the remarks during a results presentation after the company reported a 65% drop in full-year profit stemming from costs related to an investment vehicle used to boost black share ownership.

The Optimum coal mine, which has faced a strike by its workers over unpaid salaries, sought protection from creditors last month, with seven other companies owned by the Guptas who are accused of corrupt ties to former President Jacob Zuma and others.

Zuma and the Gupta brothers deny any wrongdoing.