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 toldThat day arrived on 20 September. During a “capital markets” presentation , Exxaro CEO-designate Nombasa Tsengwa said the group would target acquisitions in bauxite, manganese and copper, potentially involving“lumpy” investments.Get 14 days free to read all our investigative and in-depth journalism. Thereafter you will be billed R75 per month.
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