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MINER READY TO PAY DIVIDENDS

ABOVE: Mining giant Xstrata is to start paying dividends again after a break of 19 months

9th February 2010

By Daily Star Reporter

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MINING giant Xstrata is to start paying dividends again after a break of 19 months, in a sign of confidence about demand and the company’s finances.

The FTSE 100 group is to make the payment to shareholders despite annual profits tumbling 70% from £3.8billion to £1.1bn – blamed on heavy one-off costs and falling 2009 prices. Its shares rose 33¼ to 983¾p.

Chief executive Mick Davis said: “Robust economic growth and demand for commodities from industrialising nations is likely to continue.”

It also pledged to invest £12bn in the next three years.

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