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Xstrata

XSTRATA, which is a major exporter of coal used by power plants, agreed last week to purchase a $1.7bn stake in a Colombian mine to take advantage of rising US demand.

The company's shares are one to watch as it expand its coal output after oil and gas surged to record prices. US demand for coal imports is expected to increase 21% this year.

Xstrata's second-half pro"t rose to $909m from $679m a year earlier. Xstrata's coal sales increased 3% to 62m tons in 2005. The company has done very well out of the oil and gas boom, causing its shares to soar 60% in the last year. The company reduced costs last year by $19m, but it will face higher prices for construction materials and labour in the coming year.




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