Exxaro is a South African diversified resources company with existing coal mining operations and growth prospects in energy transition minerals, energy business and private rail infrastructure.
We are building Exxaro into a sustainable and impactful business that catalyses economic growth, principled governance, environmental stewardship and positive change.
In line with Exxaro's purpose of powering better lives in Africa and beyond, our ambition is to provide resources (people, minerals, energy and capital) critical to ensuring the energy transition and low-carbon future.
We understand that we cannot grow sustainably without creating a positive impact on the environment and communities we serve. We are committed to responsibly maximising the value of our coal assets by reducing stranded assets, and playing an active role in creating a future that realises our vision: resources powering a clean world.
Our success lies in the strength of our culture and values, which strengthen our resilience and ensure we deliver stakeholder value. Our values are:
The Sustainable Growth and Impact strategy is an integrated, multi-stakeholder approach to positioning the business for a resilient and sustainable future.
Assets
R92.9 billion
at 31 December 2023
Five coal mines*
Two windfarms and a solar project under construction
Coal product
42.5Mt
(including buy-ins)
Market capitalisation R71.4 billion
Constituent of the JSE Top 40 Index
Renewable energy
727GWh
Responsible business 30.81% black empowered
Among the top 30 in the FTSE/JSE Socially Responsible Investment Index
| * | Including one joint venture, Mafube. |
| ** | Eyesizwe (RF) Proprietary Limited (Eyesizwe), a special purpose vehicle (SPV) private company, incorporated under South Africa's laws, holds the black economic empowerment (BEE) shares. |
| *** | Exxaro Aga Setshaba NPC (formerly Matla Setshabeng NPC). |
| **** | Industrial Development Corporation of South Africa. |
For detailed information on our group structure, refer to the 2023 annual financial statements.
Our diversified asset portfolio comprises interests primarily in thermal coal (where we are among the top three South African coal producers), a growing energy solutions business and equity-accounted investments in ferrous (iron ore) and zinc, among other base metals.
Expanding our business portfolio to include manganese, bauxite, copper, energy and broader energy transition minerals enables our contribution to a more sustainable future and shareholder value enhancement. Our business interests in Europe comprise a marketing and logistics office in Switzerland. A joint operation with Anglo Coal Grosvenor Proprietary Limited, the Moranbah South project, is conducted in Australia.
We are aiming to be carbon neutral by 2050, and are committed to being an active participant in the just transition to a low-carbon economy. The energy solutions business and our scope 1 and 2 emissions reduction efforts are critical activities in this regard. Reduction of scope 3 emissions is a longer-term goal influenced by the country's energy mix.
Only mineral assets with Measured and Indicated Resources are listed in this report. Inferred Resources are reported in the supplementary CMRR report
In line with our goals to decarbonise and diversify, Exxaro's energy business comprises interests in energy through our wholly owned subsidiary, Cennergi. This business supports Exxaro's ambition of generating 1.6GW of power by 2030 and includes supporting our current coal and future minerals operations through self-generation and providing energy to external customers in mining and select markets.
Cennergi is a southern African-based independent power producer that focuses on developing, constructing and operating energy assets. Cennergi has two operational wind assets (the Tsitsikamma community and Amakhala Emoyeni windfarms).
Once operational, the LSP will supply solar energy to Grootegeluk, reducing the operation's carbon footprint and electricity costs. A pipeline of opportunities continues to be developed by the energy business for Exxaro and external offtake.
Limpopo |
Mpumalanga |
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1 |
Grootegeluk complex |
2 |
Thabametsi |
3 |
Belfast |
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| Location | West of Lephalale | West of Lephalale | South of Belfast | ||||||||
| Market | Domestic and export | Domestic | Export (alternative domestic) | ||||||||
| Product | Thermal and metallurgical coal | Thermal coal | Thermal coal | ||||||||
| Coal Resources (inclusive) |
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| Coal Reserves |
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| Mining method | Open-cut | Open-cut |
Open-cut | ||||||||
| Run of mine (RoM) | 56.05Mt | 0Mt | 3.16Mt | ||||||||
| Life of mine (LoM) | 18+ years* | 23 years | 10 year | ||||||||
| Mpumalanga |
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4 |
Leeuwpan |
5 |
Matla |
6 |
Mafube joint venture (50%) |
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| Location | South-east of Delmas | West of Kriel | East of Middelburg | ||||||||
| Market | Domestic and export | Domestic (Eskom) | Domestic and export | ||||||||
| Product | Thermal coal | Thermal coal | Thermal coal | ||||||||
| Coal Resources (inclusive) |
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| Coal Reserves |
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| Mining method | Open-cut | Underground |
Open-cut | ||||||||
| Run of mine (RoM) | 4.82Mt | 6.01Mt | 4.79Mt | ||||||||
| Life of mine (LoM) | 6 years | 1+ years* | 20 years | ||||||||
| * | Adequate Reserves well beyond expiry of mining right. |
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Australia |
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7 |
Moranbah South project (50%) |
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| Phase: Undertaking prefeasibility study to inform decision for development prospects. | |||
| Location: Queensland, Australia | |||
| Market: Export | |||
| Product: Coking coal | |||
Coal Resources:
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Eastern Cape |
Limpopo |
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8 |
Tsitsikamma community |
9 |
Amakhala Emoyeni |
10 |
LSP |
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| Location | Near Tsitsikamma | Near Bedford and Cookhouse | Lephalale | ||||||||
| Product | Wind energy | Wind energy | Solar energy | ||||||||
| Capacity | 95MW | 134MW | 68MW | ||||||||
| Equipment | 31 x 3.1MW turbines | 56 x 2.4MW turbines | |||||||||
| Performance | Adjusted P50 in the long term | Adjusted P50 in the long term | Reached financial close June 2023 | ||||||||
| Customer | Eskom | Eskom |
Exxaro Coal Proprietary Limited (Grootegeluk) |
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| Commercial operation | 2016 | 2016 | 2025 | ||||||||
| Power purchase agreement | 20 years | 20 years | 25 years | ||||||||
| Shareholding | Cennergi (75%), RE Times (16%) and the Tsitsikamma Development Trust (9%) | Cennergi (95%), Cookhouse Community Trust (2.5%) and the Bedford Community Trust (2.5%) | Cennergi (100%) | ||||||||
Report Index
IR