Public Investment Corporation increases investment in Exxaro
JOHANNESBURG (miningweekly.com) – The Public Investment Corporation (PIC) has increased its shareholding in coal and renewable energy company Exxaro Resources to just over 15%, the Johannesburg Stock Exchange-listed Exxaro stated in a stock exchange news service announcement on Monday.
South Africa's State-owned PIC is Africa's largest asset manager with R2.083-trillion of assets under management as of March 31, 2018.
Exxaro has established itself as one of South Africa’s largest black-empowered resource companies, operating in the Mpumalanga and Limpopo regions, where the country’s highest coal resource concentrations are located.
Eighty per cent of the coal it mines is sold to domestic markets, with the balance sold internationally.
Headed by CEO Mxolisi Mgojo, the company has the only producing mine in the coal-rich Waterberg region through its Grootegeluk operation.
The company states that it is commited to contributing positively to the achievement of the United Nations Sustainable Development Goals (SDGs).
To that end, in South Africa it participates in the National Business Initiative to align the 17 SDGs with the country’s National Development Plan.
In its latest environment, social and governance (ESG) report, it outlines its approach to transitioning towards a secure and more sustainable world for all.
The nature of its operating context is changing rapidly with sentiment hardening towards companies within the fossil-fuels sector, particularly over the past 12 months.
While climate change and related environmental matters have always been of material significance to Exxaro, in the past year, the necessity to elevate this matter to a broader, more prominent theme became apparent, the company states in its latest ESG report.
Exxaro was created in 2006 with the unbundling of Kumba Resources and Kumba’s coal and other assets merging with Eyesizwe Coal.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation