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EXX - Appointment of Ben Magara as new Chief Executive Officer
EXXARO RESOURCES LIMITED
Incorporated in the Republic of South Africa
(Registration Number: 2000/011076/06)
JSE share code: EXX
ISIN: ZAE000084992
ADR code: EXXAY
Bond Issuer Code: EXXI
("Exxaro" or "the company")
APPOINTMENT OF BEN MAGARA AS NEW CHIEF EXECUTIVE OFFICER
In accordance with paragraph 3.59 of the JSE Limited ("JSE") Listings Requirements, Exxaro hereby
notifies shareholders of the appointment of its new Chief Executive Officer ("CEO").
Further to our Stock Exchange News Service announcement of 6 February 2025, and following an
expedited and targeted selection process, the board of directors of Exxaro ("Board") is pleased to
announce the appointment of Mr Bennetor ("Ben") Magara as the incoming CEO, effective 1 April 2025.
Ben will succeed Acting CEO, Mr Riaan Koppeschaar, who will continue in his role as Finance Director.
Ben is a qualified Mining Engineer and highly regarded mining veteran with over 35 years' industry
experience in both soft and hard rock mining at underground and open pit operations. He is renowned
for driving operational excellence and providing strategic leadership at multiple large mining operations
from his early days at Anglo American Coal and most recently, and notably, the stabilisation,
restructuring, and turnaround of Lonmin Plc and its subsequent disposal to Sibanye Stillwater, creating
the world's largest PGM producer.
In 2020, Ben founded Africa Mining & Metals Group ("AMMG"), a mining and advisory company focused
on battery metals and precious metals. He has also spent several years in the Democratic Republic of
Congo's mining industry advising in the Copperbelt. He is, and will remain, an independent non-
executive director at Weir Plc, a FTSE100 company, and will step down from the Board of Grindrod
Limited as of 1 April 2025.
The Exxaro Chairman, Geoffrey Qhena said; "Ben Magara brings a wealth of mining leadership, global
board, and governance experience to Exxaro along with a reputation for impeccable integrity. We are
confident Ben will stabilise the organisation and continue to drive forward our growth and sustainability
strategy, particularly with the knowledge he brings from being chairman of our Investment Committee.
Ben's deep experience as an engineer, mine manager, corporate leader, and listed company CEO, will
all be invaluable to Exxaro as we continue to maximise the value of our current assets while accelerating
our prudent transition into a diversified minerals and renewable energy solutions business."
Geraldine Fraser-Moleketi, Exxaro's lead independent director and member of the Nomination
Committee, said: "Ben is a seasoned mining executive who is highly regarded for his people skills and
emphasis on teamwork and collaboration. I am delighted to say that Ben's appointment had the
unanimous support of our Board. As trusted and experienced CEO, he has excellent knowledge of the
company and industry and is well-prepared to lead."
Expressing the Board's gratitude to acting CEO, Riaan Koppeschaar, Qhena added: "I also want to
thank Riaan Koppeschaar who has played a sterling role as acting CEO. His professionalism,
leadership and impact are much appreciated. Riaan will now revert to his role as finance director."
Ben Magara said: "I am honoured to be taking up the role of Exxaro CEO, and excited to have the
opportunity to utilise our strong coal foundation as a base from which to expand our portfolio towards
the critical low-carbon minerals essential for the future. This is in line with our diversification strategy
which I have been part of as Exxaro's Non-Executive Director and Investment Committee chairman. I
believe this strategy will enable us to deliver enhanced value to all our stakeholders while balancing
enduring profitability with environmental and social sustainability."
13 March 2025
INVESTOR RELATIONS
Ms Sonwabise Mzinyathi: Acting Chief Investor Relations & Liaison
Tel: +27 (0)78 685 2430
LEAD EQUITY SPONSOR AND DEBT SPONSOR
Absa Bank Limited (acting through its Corporate and Investment Banking division).
JOINT EQUITY SPONSOR
Tamela Holdings Proprietary Limited
Date: 13-03-2025 07:05:00
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