Exxaro is a JSE-listed company operating mainly in South Africa. Coal is our core commodity and we have an established energy solutions business. Our additional growth prospects include energy transition minerals and energy solutions. Having established the business in 2006, we have deep roots in mining with a track record of operational excellence and delivering value.
Our assets have a book value of R94.7 billion (2023: R92.9 billion), including five coal mines1, two windfarms and a solar project under construction
We produced 39.5Mt of coal product (including buy-ins) (2023: 42.5Mt)
We generated 725GWh of renewable energy (2023: 727GWh)
Our market capitalisation is R55.17 billion (2023: R71.43 billion)
We are in the top 30 on the Financial Times Stock Exchange (FTSE)/JSE Socially Responsible Investment Index
The business is 30.81% black empowered
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 a 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 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:
We are creating a resilient, sustainable and impactful business that catalyses economic growth, Our strategic objectives enable the successful execution of our strategy.
| 1 | Including the Mafube JV. |
| 2 | 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. On 12 March 2025, Eyesizwe RF’s shareholders committed to maintaining Exxaro’s 30.81% empowerment shareholding until 2027. |
| 3 | Industrial Development Corporation of South Africa. |
| 4 | Exxaro Aga Setshaba NPC. |
| 5 | Exxaro owns 100% of Cennergi; Cennergi owns 95% of Amakhala Emoyeni windfarm and 75% of Tsitsikamma community windfarm. |
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For detailed information on our group structure, refer to the 2024 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.
Grootegeluk complex
Belfast
Matla
Moranbah South project (50%)
Thabametsi
Leeuwpan
Mafube JV (50%)
Our minerals business comprises coal operations and our equity investments in iron ore and zinc. Our business interests in Europe comprise a marketing and logistics company in Switzerland. A joint operation with Anglo Coal Grosvenor Proprietary Limited, the Moranbah South project, is conducted in Australia.
Expanding our business portfolio to include manganese, bauxite, copper, energy and broader energy transition minerals enables our contribution to a more sustainable future and stakeholder value enhancement.
Our coal asset base is a key differentiator and critical part of how we create value for our stakeholders.
Exxaro is one of the largest suppliers of coal to Eskom and ArcelorMittal South Africa Limited.
We own the largest high-quality Coal Reserves remaining in South Africa, providing a platform for early value returns.
Grootegeluk is one of the largest integrated mining and beneficiation operations globally, running the largest coal beneficiation complex, and the only producing mine in the coal-rich Waterberg, adjacent to Eskom's Matimba and Medupi power stations.
We invested R2.1 billion in sustaining our coal business this year (2023: R2.4 billion).
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Read the CMRR report for detailed disclosure on our minerals business and its performance this year. |
Tsitsikamma community windfarm
Amakhala Emoyeni windfarm
Lephalale solar project (LSP)
CENNERGI
In line with our goal to decarbonise and diversify, Exxaro's energy solutions business comprises investments through our wholly owned subsidiary, Cennergi Holdings Proprietary Limited. 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 including mines and larger industrial companies.
The energy solutions business and our scope 1 and 2 emissions reduction efforts are critical activities in achieving our goal to be carbon neutral by 2050, and advancing our commitment to being an active participant in the transition to a low-carbon economy.
The energy solutions business continues to develop a pipeline of opportunities for Exxaro and external offtake.
Snapshot
Cennergi has two operational wind assets (the Tsitsikamma and Amakhala Emoyeni windfarms).
Once operational, the LSP will supply solar energy to Grootegeluk, reducing the operation's carbon footprint and electricity costs. Commercial operation is expected by mid-2025.
Cennergi's operating wind asset project financing of R4.1 billion (2023: R4.3 billion) will mature and be fully settled by the end of 2031.
Cennergi's solar asset project financing will be fully settled by the end of 2042.
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Read prioritising climate change mitigation, adaptation and resilience for information about the LSP. |
IR