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 Xstrata shines in tough times 

Xstrata shines in tough times

09 Feb, 2010 09:06 AM
LATE yesterday Swiss-mining giant Xstrata, which owns Mount Isa Mines, released its preliminary profit report to the UK stock exchange.

Company chairman Mick Davis said against a challenging background, Xstrata's businesses delivered a robust operating and financial performance, with a strong second half production and sales performance as market conditions improved. Overall, the group achieved earnings before interest, tax, depreciation and amortisation (EBITDA) of more than $7 billion and net earnings of $2.8 billion.

"This solid result was achieved despite substantially lower commodity prices, and reflects the rapid and far-reaching actions taken by our commodity business management teams in response to the downturn," Mr Davis said.

n Details of Mount Isa's contribution will be published tomorrow.

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