In a strategic move to strengthen its position in the mining sector, Exxaro Resources has announced the appointment of seasoned mining executive Ben Magara as its new CEO, effective April 1, 2025.
Magara, known for his leadership roles at Lonmin and Anglo American, will take over from acting CEO Riaan Koppeschaar, who will return to his position as Finance Director.
A Visionary Leader for a Sustainable Future
With over 35 years of experience in both soft and hard rock mining, Magara brings a wealth of expertise in operational efficiency and strategic leadership.
His appointment aligns with Exxaro’s goal of diversifying its portfolio beyond coal, with a focus on critical low-carbon minerals such as manganese and copper, which are vital for the global transition to green energy.
“I am honored to take on the role of Exxaro CEO and look forward to leveraging our strong coal foundation to expand into the critical minerals essential for a sustainable future,” Magara said, emphasizing his commitment to the company’s diversification strategy.
Navigating Industry Challenges
Magara steps into the role at a time of significant challenges for the mining industry, including declining fossil fuel prices and ongoing labor tensions.
The National Union of Mineworkers (NUM) has voiced concerns about his appointment, citing potential workforce restructuring and referencing his previous tenure at Lonmin.
Despite these hurdles, Exxaro Chairman Geoffrey Qhena expressed confidence in Magara’s ability to steer the company toward stability and growth.
“Ben’s extensive experience as an engineer, mine manager, corporate leader, and listed company CEO makes him uniquely qualified to lead Exxaro through this transformative period,” Qhena stated.
Ambitious Expansion Plans
Exxaro is actively pursuing strategic growth opportunities, including the acquisition of manganese assets in South Africa and the exploration of copper projects in Zambia.
While negotiations for manganese mines have faced delays due to high valuations, the company remains optimistic about finalizing transformative deals.
Magara’s leadership will be pivotal in advancing these initiatives while addressing the complexities of sustainability, labor relations, and market dynamics.
His dual role as CEO and chairman of Exxaro’s Investment Committee positions him to effectively guide the company’s transition into a diversified minerals and renewable energy solutions business.
As Exxaro begins this new chapter under Magara’s leadership, the mining industry will be watching closely to see how the company balances growth, sustainability, and stakeholder interests in an evolving global landscape.
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