The State-owned Public Investment Corporation (PIC) has increased its shareholding in coal and renewable energy company Exxaro Resources to just over 15.13%, the company announced on February 22.
Exxaro is headed by Mxolisi Mgojo and is the only producing mine in the coal-rich Waterberg region where its Grootegeluk operation is located.
The company regularly reiterates its commitment to contributing positively to the achievement of the United Nations Sustainable Development Goals (SDGs), the most recent example of which is the company’s announcement at this year’s virtual Investing in African Mining Indaba event, during which Mgojo said the diversified miner “will no longer invest in thermal coal assets”.
This forms part of the company’s transition to becoming carbon-neutral by 2050 in terms of Scope 1 and Scope 2 emissions.
- [Editor:Catherine Ren]