Executives paid warm tributes to outgoing Exxaro CEO Sipho Nkosi at last week’s presentation of the company’s 2015 financial results, when the JSE-listed company’s coal business marked the bowing out of this mining superstar with a 29%-higher net operating profit. Nkosi is handing over the reins of the black-controlled company to incoming CEO designate Mxolisi Mgojo, who has served alongside him in Exxaro since 2006 and in Eyesizwe before that. Despite tough market conditions, Exxaro’s coal business was able to report 14%-higher headline earnings of R2.9-billion on 23% lower dollar coal prices of $50/t and 7% lower rand prices of R662/t.