In August, Exxaro announced a strong performance for the first half of 2025: evidence of how we are accelerating our Sustainable Growth & Impact (SG&I) strategy and moving confidently into our next growth phase as a Diversified Natural Resources Champion. Our results tell a story of unity, discipline, innovation and possibility, the “XX” that defines us.

Thriving financially

Our strong financial performance shows a resilient and well-managed business:

This consistency demonstrates the strength of our business model and our commitment to sustainable value creation.

These results reflect disciplined execution, resilient operations and our commitment to supporting South Africa’s energy needs while advancing a low-carbon future. 

Thriving through strategic growth

We made significant progress in diversifying and strengthening our portfolio:

These investments position Exxaro for long-term growth in the minerals driving the global energy transition.

Thriving with our communities

In the first half of the year, we invested R815 million in enterprise development, education, community well-being, and local economic participation. These investments strengthen the ecosystems around our operations and ensure that our communities thrive alongside us.

These results belong to every employee whose dedication, resilience and unity drive our success. As we celebrate the end of 2025, we thank you for helping us deliver our best work – safely, together, and with purpose.

Accelerating our Sustainable Growth & Impact (SG&I) Strategy

This year, we accelerated the implementation of our SG&I strategy, translating long-term ambition into decisive action. With Cennergi’s expansion in wind and solar energy and our entry into the manganese value chain, we broadened our portfolio and invested in the minerals and energy that will enable South Africa’s economy to thrive. These milestones reflect a business preparing not just to adapt to the future, but to lead it.

Powering a cleaner future with renewable energy

Cennergi took a major leap forward with the Karreebosch Wind Farm, securing a 20-year agreement to supply 140MW of renewable energy to Northam Platinum. Beyond clean power, Karreebosch will create over 1 000 jobs, unlock long-term social impact programmes and expand Cennergi’s renewable portfolio to 409MW –  a key milestone in Exxaro’s journey to 1.6GW by 2030.

Strengthening our position as a diversified natural resources leader

Exxaro took a significant step in its diversification journey, with the R11.67 billion acquisition of a high-quality portfolio of manganese assets from Ntsimbintle Holdings and OM Holdings. The transaction includes 100% of Ntsimbintle Mining, 19.99% of Jupiter, 100% of Ntsimbintle Marketing and Trading, 51% of Mokala and 9% of Hotazel Manganese Mines – giving Exxaro exposure to four operating mines in the globally significant Kalahari Manganese Field. Beyond expanding our minerals portfolio, the deal secures full value-chain capability through marketing rights to 50.1% of Tshipi’s finished ore, reinforcing Exxaro’s position as a resilient, future-fit natural resources champion.

Exxaro recognised for transparent, sustainable reporting

Exxaro’s commitment to sustainability was further reinforced when our Integrated Report placed in the top tier at the 2025 EY Excellence in Integrated Reporting Awards, which celebrate the JSE’s top 100 listed companies and benchmark the quality of integrated reporting in South Africa. This recognition affirms our dedication to transparent reporting and strong environmental governance which are key pillars of our SG&I strategy.