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Exxaro Resources Limited
Integrated report 2022
Driving transition through leadership
Since Exxaro's creation in 2006, we have weathered international and domestic disruptions, among others, the global financial crisis, the commodity downturn and more recently COVID-19, while responding to the resonating global call to action against climate change to reduce carbon emissions in the face of South Africa's energy security challenges.

Exxaro displayed tremendous resilience in navigating a tumultuous operating environment during the financial year, characterised by economic disruptions from the Russia-Ukraine conflict and resulting energy crisis, market volatility, domestic challenges, and evolving geopolitics.

Dr Nombasa Tsengwa
CEO

Mvuleni Geoffrey Qhena
Chairperson's statement

Through the persistent tough macro-economic background that included global inflationary challenges and ongoing logistical constraints, Exxaro continued to deliver excellent results, displaying our agility to navigate the obstacles we faced.

Mvuleni Geoffrey Qhena
Chairperson

Mvuleni Geoffrey Qhena
CEO's report

Exxaro displayed tremendous resilience in navigating a tumultuous operating environment during the financial year, characterised by economic disruptions from the Russia-Ukraine conflict and resulting energy crisis, market volatility, domestic challenges, and evolving geopolitics.

Dr Nombasa Tsengwa
CEO

Mvuleni Geoffrey Qhena
Finance Director's Review

The strong commodity price performance together with our operational excellence efforts have contributed positively to our financial performance. Despite the logistical constraints, our managed operations were able to show strength and resilience resulting in a 78% increase in EBITDA to R19.0 billion.

Riaan Koppeschaar
Finance director

Riaan Koppeschaar
Understanding our business
We are preparing Exxaro to achieve our vision of resources powering a clean world – with our Sustainable Growth and Impact strategy considering our purpose, prospects and social obligations within an evolving operating context.
Drivers of value creation
We are driven by our purpose to power better lives in Africa and beyond as we navigate a just transition, considering the needs of our stakeholders, towards a clean world.
Transitioning the business for growth
Our Sustainable Growth and Impact strategy will deliver our long-term strategic objectives, measured and managed through KPIs for our progress on the journey to become carbon neutral by 2050.
Governance for value creation
Our governance processes and practices steer us in the right direction with the pillars of exemplary corporate citizenship – transparency, accountability and integrity – as our guides.
Our performance
Our values and culture are driving us towards our goals for society and the environment at large: we are empowered to grow and contribute within honest and responsible teams who are committed to excellence.
Our Mineral Resources and Mineral Reserves
We are unlocking value from our existing asset base to sustain our journey from coal mining to minerals and renewable energy solutions that will enable us to thrive in a low-carbon environment.
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UNDERSTANDING OUR BUSINESS
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Driving transition through leadership
Driving value creation through transition
About our integrated report
Chairperson's statement
About Exxaro
Sustainable growth and impact
Our operating context

DRIVERS OF VALUE CREATION
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Our business model
Our material matters
Our business risks and opportunities
Creating value through stakeholder engagement

TRANSITIONING THE BUSINESS FOR GROWTH
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CEO's report
Our strategy: positioning Exxaro for sustainable growth and impact
Performance against our strategy and future focus
2022 strategic key performance indicators
Key strategic trade-offs

GOVERNANCE FOR VALUE CREATION
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Our leadership
Summarised governance report
Combined assurance for effective governance

OUR PERFORMANCE
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Finance director's overview
Operational performance
Business resilience
Our people
Social licence to operate: enabling our legitimacy
Our environment: stewardship and compliance
Responding to TCFD reporting requirements

OUR MINERAL RESOURCES AND MINERAL RESERVES
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Our mineral resources and mineral reserves

ADDITIONAL INFORMATION
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Glossary
Administration