By Nelson Banya
Exxaro Resources said it has appointed veteran mining executive Ben Magara as its new CEO following the departure of Nombasa Tsengwa, as the South African coal miner steps up its search for battery metals.
Magara, a former CEO of platinum miner Lonmin and a former executive at Anglo American, takes over in April from acting CEO Riaan Koppeschaar, who will resume his role as finance director.
The new CEO is expected to steer the coal miner amid declining profits due to lower prices for the fossil fuel as well as drive Exxaro’s strategy to buy manganese and copper assets, which are crucial to the green energy transition, chairman Geoffrey Qhena said in a statement.
Exxaro has made “good progress” on plans to buy manganese assets in South Africa, chief growth officer Richard Lilleike told Reuters. It has taken Exxaro longer to reach a deal due to the
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