Exxaro names Ben Magara as CEO

Exxaro Resources has appointed Ben Magara as CEO from April 1, succeeding acting CEO Riaan Koppeschaar, who will remain in his role as finance director.

Koppeschaar has been acting in the role since the departure of previous CEO Nombasa Tsengwa.

Magara is a qualified mining engineer and highly regarded mining veteran with more than 35 years’ industry experience in both soft and hard rock mining at underground and open pit operations, Exxaro said in a statement on Thursday.

“He is renowned for driving operational excellence and providing strategic leadership at multiple large mining operations from his early days at Anglo American Coal and most recently, and notably, the stabilisation, restructuring, and turnaround of Lonmin and its subsequent disposal to Sibanye-Stillwater, creating the world’s largest PGM [platinum group metal] producer,” Exxaro said.

In 2020, he founded Africa Mining & Metals Group, a mining and advisory company focused on battery and precious metals.

He has also spent several years in Democratic Republic of Congo’s mining industry, advising in the Copperbelt.

Magara will remain an independent nonexecutive director at Weir, a FTSE 100 company, and will step down from the board of Grindrod at the beginning of April.

“Ben Magara brings a wealth of mining leadership, and global board and governance experience to Exxaro, along with a reputation for impeccable integrity. We are confident Ben will stabilise the organisation and continue to drive forward our growth and sustainability strategy, particularly with the knowledge he brings from being chairman of our investment committee,” said Exxaro chair Geoffrey Qhena.

Commenting on his appointment, Magara said he was excited to have the opportunity to use Exxaro’s strong coal foundation as a base from which to expand its portfolio towards the critical low-carbon minerals essential for the future.

“This is in line with our diversification strategy, which I have been part of as Exxaro’s nonexecutive director and investment committee chairman. I believe this strategy will enable us to deliver enhanced value to all our stakeholders while balancing enduring profitability with environmental and social sustainability,” he said.

mackenziej@arena.africa