Magara reflects on return as Exxaro CEO, discusses diversification strategy
Reflecting on his return as CEO of Exxaro Resources, Ben Magara discussed the group’s diversification strategy at this year’s Joburg Indaba, highlighting the “next dawn” at the company.
In a discussion with Bernard Swanepoel on October 9, Magara noted the company’s acquisition of manganese assets and its renewable-energy business.
“That excites me – to be having a company which is very clear about its vision, or decarbonisation plan and carbon neutrality, where we are growing the renewables business while we still have coal and growing our transition metals, because manganese is as key to the steel industry as it is becoming an emerging chemical for battery technology,” he said.
As previously reported in Mining Weekly, Exxaro entered into binding agreements to acquire shares and claims in manganese assets held by Ntsimbintle Holdings and OM Holdings in a "transformational" R11.67-billion transaction.
Magara also described the long-term fundamentals of manganese as robust, adding that, because Exxaro had expert mining capabilities for bulk mining, it could become a diversified bulk miner in this space using the expertise it had in coal.
Speaking on its coal business, Magara noted that Exxaro had a life beyond 2050 for its coal mines, adding that the company was also looking for life extension opportunities.
Magara further noted that Exxaro aimed to double its renewable-energy business from 229 MW to 450 MW by 2027.
“This is a diversified portfolio which we are only growing, and we think our new era is about seeing Exxaro as a diversified natural resources company – not just a mining company,” he said.
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Rittal is a world leading provider of top-quality integrated systems for enclosures, power distribution, climate control, IT infrastructure and...
VISIT SHOWROOM
From batteries for boats and jet skis, to batteries for cars and quad bikes, SABAT Batteries has positioned itself as the lifestyle battery of...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
