The diversified mining and renewable energy solutions company, Exxaro Resources, is proud to announce that it is ranked in the 5th position of the prestigious 2022 Sunday Times Top 100 Companies Awards.
This is the second year that Exxaro ranks in the Top 5 of the Top 100 Companies Awards. In 2021, Exxaro ranked in 5th position at the annual awards, an achievement that represents admirable progression from 13th in 2020 and up 32 places from its 37th position in 2019.
The Sunday Times Top 100 Companies Awards recognizes JSE-listed companies for their contribution to the economy and social progress through investments, initiatives, and job creation opportunities. The awards also applaud these private-sector companies for achieving the highest returns for their shareholders over the past five years.
Maintaining this standard of performance has proven Exxaro’s efforts to enabling a Just Transition for the business and its local communities, as the mining giant’s practices are driven by its Sustainable Growth and Impact (SG&I) strategy. Over the last 24 months Exxaro has been on a diversification strategy of its business portfolio to ensure that its growth is driven by lower carbon minerals and renewable energy solutions which will enable the business to fulfil its vision of ‘resources powering a cleaner world’.
Dr Nombasa Tsengwa, CEO of Exxaro Resources, expressed that “It is empowering to see the mining industry taking the reins of the Sunday Times Top 100 Companies Awards, and we are appreciative to have been recognised in these prestigious awards for four consecutive years. We owe these achievements to the men and women of Exxaro who have worked tirelessly, over the years, responding to dynamic conditions that have characterised our markets.”
Over the years, Exxaro’s asset portfolio has been optimised to remain with the most robust assets, that fit in with its core competencies, and at the same time future fit to withstand headwinds ahead, due to dynamic market forces and the need to respond to climate change impacts. For an example, Exxaro’s asset portfolio includes coal, iron ore, zinc and renewable energy, grew its half-year group revenue by 48% to R22.3bn to the end of June 2022 after export prices for coal immensely increased.
“Despite these high thermal coal prices, prolonged rail unavailabilities restricted our ability to take full advantage of these prices, further adding abnormally high distribution costs, due to coal trucking. However, we contained our unit cost of production below mining inflation, and furthermore our early value strategy which prioritises high value coal.
“A combination of factors contributing to Exxaro’s success include - navigating and responding to change, working safely, diversity, equity, and inclusion, balancing stakeholder expectations and needs, as well as the consideration of social, environmental, and economic issues which are vital to ensure we remain profitable and competitive,” adds Dr Tsengwa.
This is the company’s unwavering commitment to achieving the United Nations Sustainable Development Goals (UNSDG), as they remain an important guideline towards its success.
“We still have a long way to go but we are pleased with the progress we have made, and we know that there is a better place to be tomorrow, than where we are today,” concludes Dr Tsengwa.