Coal producer Exxaro Resources, which has been talking about a future beyond coal, is in talks for possible acquisitions in renewable energy, water and the food security businesses. CEO Mxolisi Mgojo said on Thursday that Exxaro, which has coal as the bedrock of its business, had set aside cash to explore these business opportunities, which will not be capital intensive as they will be projects of less than R1bn. Backed by solid commodity prices in the year, Exxaro posted a net operating profit to end-December of R6bn, up from R5.2bn. The company also paid a final dividend of R3 per share in addition to its March payment of a special dividend of R12.55 per share, after the sale of part of its stake in Tronox, an American business dealing in titanium. The company is looking into spending about R20bn in the next five years to expand its coal business and to also invest R900m in smaller technological businesses. Mgojo said the world in the future would be challenged by big things and t...
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