Social instability and cable theft a threat to investment, says Exxaro CEO
Despite a challenging operating environment, the miner reported a strong performance and declared a record interim cash dividend
Exxaro Resources CEO Mxolisi Mgojo has singled out recent unrest in SA and poor rail performance among local dynamics that are “clearly negative” to immediate operational stability and long-term investment efficiency and attractiveness, and have to be tackled with urgency.
At the release of the miner’s strong interim results, and the declaration of a record interim dividend, Mgojo said social instability as demonstrated by riots and looting in parts of the country in July, as well as the Covid-19 pandemic and chronic cable theft on the Transnet Freight Rail, need to be tackled “separately, holistically and with urgency”...
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