finweek

Exxaro’s new strategy

accreditation
Share your Subscriber Article
You have 5 articles to share every month. Send this story to a friend!
0:00
play article
Subscribers can listen to this article

The last time Exxaro Resources publicised a shift in strategy, it provided so little detail that the market heavily punished the firm’s shares. That was in 2018 when CEO Mxolisi Mgojo articulated plans to move into food and water security – a major shift for one of SA’s largest coal producers.

The company later clarified the strategy would be backed by only modest investments, but Mgojo remembered the criticism he received. He subsequently told finweek that pronouncements on strategy would only be disclosed when fully fleshed out.

That day arrived on 20 September. During a “capital markets” presentation (that the press was unable to attend live), Exxaro CEO-designate Nombasa Tsengwa said the group would target acquisitions in bauxite, manganese and copper, potentially involving“lumpy” (big capital expenditure) investments.

Support independent journalism
Subscribe to News24 for just R75 per month to read all our investigative and in-depth journalism. You can cancel any time.
Subscribe
Already a subscriber? Sign in
Rand - Dollar
14.86
-0.9%
Rand - Pound
20.44
-0.9%
Rand - Euro
17.22
-0.9%
Rand - Aus dollar
11.14
-1.1%
Rand - Yen
0.13
-0.5%
Gold
1,793.70
-0.8%
Silver
24.16
-1.7%
Palladium
2,006.86
-2.6%
Platinum
1,032.00
-2.9%
Brent Crude
85.99
+0.5%
Top 40
61,025
+1.0%
All Share
67,615
+1.0%
Resource 10
63,620
+0.3%
Industrial 25
87,147
+1.5%
Financial 15
14,027
+0.9%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Voting Booth
Facebook is facing a fresh crisis after a former employee turned whistle-blower leaked internal company research . Do you still use Facebook?
Please select an option Oops! Something went wrong, please try again later.
Results
Yes, the benefits outweigh the risk for me
26% - 307 votes
No, I have deleted it
44% - 525 votes
Yes, but I am considering deleting it
30% - 358 votes
Vote