- Ben Magara appointed CEO of Exxaro Resources, effective April 1, 2025.
- He aims to transform Exxaro towards renewable energy and sustainability.
Ben Magara has been appointed as the new Chief Executive Officer of Exxaro Resources Limited, effective April 1, 2025. His appointment marks a significant moment for the South African mining giant as it navigates a complex global energy landscape and pushes forward with its diversification strategy.
Magara is a qualified Mining Engineer with over 35 years of experience across Africa's mining landscape. His early career saw him cutting his teeth in Zimbabwe's rich mining sector before making his mark across the continent. He later joined Anglo American, where he held key leadership roles, including CEO of Anglo American Coal South Africa.
However, it was his tenure at Lonmin Plc that cemented his reputation as a turnaround specialist. Tasked with leading the platinum miner through one of its most turbulent periods, Magara oversaw its stabilization, restructuring, and eventual merger with Sibanye Stillwater in 2019, creating the world’s largest producer of platinum group metals (PGMs).
In 2020, he founded Africa Mining & Metals Group (AMMG), a company focused on battery and precious metals — a venture aligning with the global shift towards green energy. Magara has also contributed to the development of the Democratic Republic of Congo's Copperbelt, further showcasing his commitment to advancing Africa's mining sector.
Exxaro’s Future: Diversification and Sustainability
Exxaro, traditionally known as one of South Africa’s largest coal producers, has been actively reshaping its portfolio to align with global trends in sustainability. This shift comes amid declining coal prices, which contributed to a reported drop in Exxaro's profits to approximately 7 billion rand in 2024, down from nearly 11 billion rand the previous year.
Geoffrey Qhena, Exxaro's Chairman, expressed confidence in Magara's leadership, highlighting his "wealth of mining leadership, global board, and governance experience." Qhena emphasized that Magara's appointment aligns with Exxaro's ambition to accelerate its transformation into a diversified minerals and renewable energy solutions provider.
Geraldine Fraser-Moleketi, Exxaro’s lead independent director, praised Magara's people-first approach: "Ben is highly regarded for his emphasis on teamwork and collaboration. His appointment had the unanimous support of our Board."
A Vision for Africa’s Mining Future
Magara himself recognizes the challenges and opportunities ahead. "I am honored to be taking up the role of Exxaro CEO," he said. "I look forward to utilizing our strong coal foundation as a base from which to expand our portfolio towards the critical low-carbon minerals essential for the future. This diversification strategy is something I’ve been part of as Exxaro’s Non-Executive Director and Investment Committee chairman."
His immediate priorities will likely include optimizing current operations, enhancing ESG (Environmental, Social, and Governance) practices, and accelerating Exxaro's transition into renewable energy and sustainable mining practices.
The Road Ahead
As the global energy landscape shifts towards decarbonization, Exxaro's strategic pivot will be closely watched. The appointment of Magara signals a clear intent to embrace this transition while maximizing the value of its existing assets.
With a proven track record of operational excellence and visionary leadership, Ben Magara's arrival marks the dawn of a new era for Exxaro. Industry stakeholders and shareholders alike will be keen to see how his leadership shapes the future of one of Africa's most influential mining companies.
