Australian coal producer Xstrata has issued its financial results for 2012, which has been a transformational year for the company with 10 major projects commissioned.
In 2012, Xstrata registered a net profit of $1.18 billion, decreasing by 79 percent, while its revenue saw a decrease of seven percent to $31.61 billion, both year on year. In the given period, the company's operating profit amounted to $8.12 billion, decreasing by 30 percent compared to the previous year.
Xstrata reported cost savings for the 11th consecutive year in 2012, amounting to $176 million in the given year, delivering sustainable, long-term reductions to operating costs.
Xstrata's total consolidated coal production in 2012 increased by seven percent year on year to 90.4 million mt, with Australian coking coal production amounting to 6.9 million mt, down nine percent compared to 2011.