Exxaro profit surges

Exxaro, the largest supplier of coal to Eskom, has embarked on an aggressive local procurement strategy, which saw it spend R1.05-billion on domestic suppliers. The company said this expenditure saw it empower 241 local black-owned SMMES.

Exxaro on Thursday, reported a 13% increase in group revenue to R32.8-billion and a 77% surge in profit to reach R16.3-billion. The mining and resources company also announced that its CEO, Mxolisi Mgojo, would relinquish his role a year early, paving the way for CEO in waiting Nombasa Tsengwa to lead the company from August.