Xstrata’s Profits Fall 37 Percent in 2012

Bloomberg reported that Xstrata’s profits slid 37 percent in 2012, mostly due to rising coal costs.

As quoted in the market report:

The combined impact of falling commodity prices, ongoing inflationary pressure on operating costs and continued strong producer currencies relative to the U.S. dollar put pressure on our margins,” Chief Executive Officer Mick Davis said in the statement. Economic developments in China and the U.S. will support commodity demand in 2013, he said.

To view the whole Bloomberg report, click here.