Exxaro Resources Limited
Integrated report for the year ended 31 December 2024 

Creating sustainable growth and impact

In line with our purpose of powering better lives in Africa and beyond, our ambition is to provide resources (commodities, energy, capital and people) critical to ensuring a low-carbon world.

How we create and preserve value

Integrated thinking is at the core of our strategic decisions, guiding our approach to value creation and shaping the disclosures we provide through our integrated reporting.

Our purpose shapes who we are…

We are navigating a rapidly evolving landscape, with environmental sustainability and social equity as key drivers. Led by our purpose, we will not only adapt but thrive – transforming our operations to provide resources that contribute to a cleaner, more equitable world.

… and what we do

Refer to our business model.

  Responsible mining
  Energy operations
  Strategising for future relevance and a low-carbon transition
  Diversified equity investments
  Delivering sustainable impact and responsible practices

The board achieved its black and black female representation targets with 47% black female representation and 80% black representation in 2024

Consistently recognised in the Bloomberg Gender-Equality Index (GEI) since 2014

Maintained an average score above 4/5 for governance in the Financial Times Stock Exchange (FTSE) Russell Index

Sustainable

Decarbonising today for a sustainable tomorrow

  • Achieved a 2% reduction in scope 1, scope 2 and total emissions since 2019, with a further 40% reduction targeted by 2030 through solar photovoltaic (PV) projects and efficiencies
  • Advancing scope 3 reductions through partnerships and stakeholder engagement
  • Piloting nature-based carbon offset projects at Grootegeluk and Leeuwpan, with plans to scale for broader social and environmental impact

Sustaining resilience amid market volatility

  • Maintained strong cash generation of R10.4 billion in 2024 despite lower coal prices

Building resilience through climate foresight

  • Invested R64.5 million in climate change research and development since 2019
  • Engaging specialists to utilise climate data for predicting and mitigating the impacts of extreme weather on operations, communities, and social programmes

These broader outcomes are underpinned by the six capitals we use and affect...

Financial capital
Financial capital
Manufactired capital
Manufactured capital
Intellectual capital
Intellectual capital

Driven by our commitment to power better lives across Africa and beyond, Exxaro prioritises energy security, economic growth and social impact, navigating a dynamic environment that demands both resilience and adaptability.

We are acutely aware of the delicate balance between a rapid energy transition and a fair, equitable shift that benefits all stakeholders. Through our Sustainable Growth and Impact strategy, we are positioning Exxaro to deliver sustainable growth and meaningful impact for all our stakeholders.

Robust, value-enhancing governance and leadership underpin our ability to create value...

Good governance is essential to our ability to create value. By prioritising transparency, accountability and integrity, we develop strategies that generate and preserve value while safeguarding against value erosion. This proactive stance aims to ensure that every decision is a step towards reinforcing stakeholder trust and powering a more sustainable future.

Growth

Driving sustainable growth through strategic investments

  • Continued to evaluate investment opportunities in energy transition minerals and renewable energy, aligned with our Sustainable Growth and Impact strategy and supported by our robust capital allocation framework and investment criteria

Progressing towards renewable energy targets

  • Advanced the construction of the 68MW Lephalale solar project (LSP) at Grootegeluk, a critical step in achieving our renewable energy target of 1.6GW (net) by 2030

Impact

Protecting natural resources and reducing our environmental impact

  • Progressed water conservation efforts by implementing site-specific water management plans to improve efficiency and mitigate climate-related risks
  • Recycled 9.21ML of water
  • Planted 16 000 Spekboom trees at Grootegeluk and Leeuwpan
  • Contributed R5 million towards rhino conservation every year since 2020
  • Cleared invasive alien plants from approximately 178ha of land

Creating lasting socio-economic value for our communities

  • Invested R2.1 billion in socio-economic development through social and labour plan (SLP) projects that include local procurement and infrastructure, skills and small, medium and micro-enterprise (SMME) development
  • Invested R117.87 million in corporate social investment (CSI) initiatives
  • Supported 291 local black-owned SMMEs through procurement spend
Human capital
Human capital
Social and relationship capital
Natural capital
Natural capital