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JOHANNESBURG (Reuters) – South African mining group Exxaro has taken a 5.8 billion rand ($543 million) write-down on its Mayoko iron ore project in the Republic of Congo after failing to reach port and rail agreements, the company said on Wednesday.
The impairment amount included acquisition and projected related costs, the company said.
Exxaro will report on its first six months performance on Aug. 21. It expects basic headline earnings per share, which will exclude the impact of the impairment, to increase by between 5 and 12 percent from the 712 cents a year earlier.
($1 = 10.6725 South African Rand)
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