| Investment in subsidiaries | |||||||
| Investment in shares1 | Investment in share-based payments |
||||||
| Country2 | Nature of business3 | 2024 R |
2023 Rm |
2024 Rm |
2023 Rm |
||
| Direct investments | |||||||
| Cennergi Holdings Proprietary Limited | RSA | H | 2 437 330 416 | 2 437 330 416 | |||
| Colonna Properties Proprietary Limited | RSA | B | 2 518 966 | 2 518 966 | |||
| Exxaro Australia Holdings Proprietary Limited4 | AUS | H | 803 932 214 | 765 066 307 | |||
| Exxaro Base Metals and Industrial Minerals Holdings Proprietary Limited | RSA | H | 1 | 1 | |||
| Exxaro Chairman’s Fund | RSA | S | |||||
| Exxaro Coal Proprietary Limited | RSA | M | 1 868 325 864 | 1 868 325 864 | 44 | 78 | |
| Exxaro Employee Empowerment Participation Scheme Trust5 | RSA | S | |||||
| Exxaro Employee Empowerment Trust5 | RSA | S | |||||
| Exxaro Environmental Rehabilitation Fund | RSA | S | |||||
| Exxaro ESOP SPV RF Proprietary Limited | RSA | S | 100 | 100 | |||
| Exxaro FerroAlloys Proprietary Limited | RSA | A | 1 | 1 | 2 | 2 | |
| Exxaro Foundation6 | RSA | S | |||||
| Exxaro Holdings Proprietary Limited7 | RSA | H | 433 575 451 | 433 575 451 | |||
| Exxaro Insurance Company Limited8 | RSA | I | 1 102 000 000 | 812 000 000 | |||
| Exxaro Aga Setshaba NPC | RSA | E | |||||
| Exxaro Mountain Bike Academy NPC | RSA | E | |||||
| Exxaro People Development Initiative NPC5 | RSA | E | |||||
| Exxaro Properties (Groenkloof) Proprietary Limited5 | RSA | B | 1 | 1 | |||
| Eyesizwe (RF) Proprietary Limited (14.86%) | RSA | S | 1 482 907 923 | 1 482 907 923 | |||
| Ferroland Grondtrust Proprietary Limited | RSA | F | 2 | 2 | 5 | 5 | |
| Gravelotte Iron Ore Company Proprietary Limited | RSA | B | 1 | 1 | |||
| Kumba Resources Management Share Trust | RSA | S | |||||
| Rocsi Holdings Proprietary Limited9 | RSA | H | 647 948 268 | ||||
| Total direct investments in subsidiaries | 8 130 590 940 | 8 449 673 301 | 51 | 85 | |||
| Indirect investments | |||||||
| Amakhala Emoyeni RF Proprietary Limited (95%) | RSA | R | |||||
| Coastal Coal Proprietary Limited | RSA | MIC | 1 | 1 | |||
| Cennergi Proprietary Limited | RSA | H | |||||
| Cennergi Services Proprietary Limited | RSA | C | |||||
| Lephalale Solar Proprietary Limited | RSA | R | |||||
| Lephalale Solar II Proprietary Limited10 | RSA | R | |||||
| Lephalale Solar III Proprietary Limited10 | RSA | R | |||||
| K2021699383 (South Africa) Proprietary Limited10 | RSA | R | |||||
| Icarus Solar Power Plant (RF) Proprietary Limited11 | RSA | R | |||||
| Karreebosch Mbane Proprietary Limited10 | RSA | R | |||||
| Karreebosch SAN Proprietary Limited10 | RSA | S | |||||
| Exxaro Australia Proprietary Limited | AUS | P | |||||
| Exxaro Coal Mpumalanga Proprietary Limited | RSA | M | 188 | 194 | |||
| Exxaro International Trading AG | SW | C | (3) | (1) | |||
| Exxaro Reductants Proprietary Limited5 | RSA | A | |||||
| The Vryheid (Natal) Railway Coal and Iron Company Proprietary Limited | RSA | MIC | |||||
| Exxaro Employee Share Ownership Trust | RSA | S | |||||
| Tsitsikamma RF Proprietary Limited (75%) | RSA | R | |||||
| Total indirect investment in subsidiaries | 186 | 194 | |||||
| Total investment in subsidiaries | 8 130 590 940 | 8 449 673 301 | 237 | 279 | |||
| 1 | At 100% holding except where otherwise indicated. |
| 2 | Country of incorporation: RSA — Republic of South Africa, AUS — Australia, SW — Switzerland. |
| 3 | M — Mining, B — Property, C — Service, E — Not for profit company, F — Farming, H — Holdings, I — Insurance, A — Manufacturing, P — Exploration, S — Structured entity, MIC – Mines in closure, R – Renewable energy. |
| 4 | Increase in investment relates to a cash subscription of R38 million and loan capitalisation of R9 million in 2024. |
| 5 | Entity in process of liquidation or deregistration. |
| 6 | Deregistered on 13 March 2024. |
| 7 | Impairment charge on investment in subsidiary of R26 million recognised in 2023. |
| 8 | Share subscriptions for cash amounting to R290 million (2023: R500 million). |
| 9 | In 2024, a return of capital was declared and the company is in the process of liquidation. In 2023, an impairment charge of R6 million was recognised. |
| 10 | Entity reserved for future renewable energy projects. |
| 11 | Entity acquired holding a single asset renewable energy development project. |
| Total indebtedness receivable/(payable) | ||||||
| Total indebtedness by | (Total indebtedness to) | |||||
| Type of indebtedness | 2024 Rm |
2023 Rm |
2024 Rm |
2023 Rm |
||
| Direct investments | ||||||
| Cennergi Holdings Proprietary Limited | Non-interest-bearing | 115 | 108 | (2) | ||
| Colonna Properties Proprietary Limited | ||||||
| Exxaro Australia Holdings Proprietary Limited | ||||||
| Exxaro Base Metals and Industrial Minerals Holdings Proprietary Limited | Non-interest-bearing | 217 | 216 | |||
| Exxaro Chairman’s Fund | ||||||
| Exxaro Coal Proprietary Limited | Total | 3 130 | 4 198 | (11 579) | (12 513) | |
| – Interest-bearing | 3 002 | 4 108 | ||||
| – Treasury facility | (11 579) | (12 513) | ||||
| – Current indebtedness | 128 | 90 | ||||
| Exxaro Employee Empowerment Participation Scheme Trust | ||||||
| Exxaro Employee Empowerment Trust | ||||||
| Exxaro Environmental Rehabilitation Fund | ||||||
| Exxaro ESOP SPV RF Proprietary Limited | ||||||
| Exxaro FerroAlloys Proprietary Limited | Total | 72 | 83 | |||
| – Treasury facility | 67 | 82 | ||||
| – Current indebtedness | 5 | 1 | ||||
| Exxaro Foundation | ||||||
| Exxaro Holdings Proprietary Limited | Non-interest-bearing | (6) | (6) | |||
| Exxaro Insurance Company Limited | ||||||
| Exxaro Aga Setshaba NPC | Interest-bearing | 31 | ||||
| Exxaro Mountain Bike Academy NPC | ||||||
| Exxaro People Development Initiative NPC | ||||||
| Exxaro Properties (Groenkloof) Proprietary Limited | ||||||
| Eyesizwe (RF) Proprietary Limited (14.86%) | ||||||
| Ferroland Grondtrust Proprietary Limited | Total | 5 | 49 | |||
| – Treasury facility | 2 | 48 | ||||
| – Current indebtedness | 3 | 1 | ||||
| Gravelotte Iron Ore Company Proprietary Limited | ||||||
| Kumba Resources Management Share Trust | Non-interest-bearing | (84) | (81) | |||
| Rocsi Holdings Proprietary Limited | Non-interest-bearing | (646) | ||||
| Total direct investments in subsidiaries | 3 539 | 4 685 | (11 671) | (13 246) | ||
| Indirect investments | ||||||
| Amakhala Emoyeni RF Proprietary Limited (95%) | ||||||
| Coastal Coal Proprietary Limited | Non-interest-bearing | 287 | 184 | |||
| Cennergi Proprietary Limited | ||||||
| Cennergi Services Proprietary Limited | ||||||
| Lephalale Solar Proprietary Limited | ||||||
| Lephalale Solar II Proprietary Limited | ||||||
| Lephalale Solar III Proprietary Limited | ||||||
| K2021699383 (South Africa) Proprietary Limited | ||||||
| Icarus Solar Power Plant (RF) Proprietary Limited | ||||||
| Karreebosch Mbane Proprietary Limited | ||||||
| Karreebosch SAN Proprietary Limited | ||||||
| Exxaro Australia Proprietary Limited | ||||||
| Exxaro Coal Mpumalanga Proprietary Limited | Total | 86 | 48 | (3 357) | (2 324) | |
| – Treasury facility | (3 357) | (2 324) | ||||
| – Current indebtedness | 86 | 48 | ||||
| Exxaro International Trading AG | ||||||
| Exxaro Reductants Proprietary Limited | Non-interest-bearing | (36) | ||||
| The Vryheid (Natal) Railway Coal and Iron Company Proprietary Limited | Non-interest-bearing | 82 | 67 | |||
| Exxaro Employee Share Ownership Trust | ||||||
| Tsitsikamma RF Proprietary Limited (75%) | ||||||
| Total indirect investment in subsidiaries | 455 | 299 | (3 357) | (2 360) | ||
| Total investment in subsidiaries | 3 994 | 4 984 | (15 028) | (15 606) | ||
IR