NOMBASA TSENGWA: Why Exxaro supports the SA investment conference

In 2018 SA found itself in a challenging period, which saw the economy shrink by 2.6% in the first quarter of 2018 and a further 0.4% in the second quarter. Construction, agriculture and mining experienced the largest shrinkage. Mining activity fell by 1.7%. Many companies were hit by this economic downfall. Amid that challenging period Exxaro held steadfast to its intent to power possibility and purpose, and maintained its R20bn commitment to grow and expand its coal business.

The conference is part of government’s drive to attract R1.2-trillion investment over five years. It draws investors, industry players and other stakeholders to help the country unlock its potential and create inclusive and sustainable economic growth. Started in 2018, the conference has already attracted R770bn in commitments across a wide range of economic sectors, including energy, infrastructure, telecommunications and pharmaceutical sectors.

For this reason, in 2019 during the second investment conference, we pledged R20bn to President Cyril Ramaphosa, to continue to invest into the national economy. It was our way of playing our part in the rejuvenation of our country’s economy. This audacious commitment was geared towards the development of the thermal coal mining operations investments in Limpopo and Mpumalanga provinces. The investment was being injected into the industry over a three-year period.

For the most part, Exxaro’s investment used local suppliers from our mining communities, with 98% of our capital spend being on SA suppliers. These investment projects have created about 10,000 direct and indirect employment opportunities. The balance of the expenditure is continuing in partnership with Eskom for the expansion of the Matla mine, which supplies Matla power station.Exxaro has built an exceptional coal business that has delivered unrivalled value to all stakeholders.

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