Exxaro Resources has confirmed that Ben Magara, former CEO of Lonmin, has been appointed its new chief executive officer.
He will assume the role on April 1, 2025, succeeding Riaan Koppeschaar, who has served as acting CEO since December 2024.
Koppeschaar stepped in following the resignation of Nombasa Tsengwa last year and will continue in his position as Finance Director, the company announced.
“Following an expedited and targeted selection process, the board of directors of Exxaro (‘Board’) is pleased to announce the appointment of Mr. Bennetor (‘Ben’) Magara as the incoming CEO, effective April 1, 2025.Ben will succeed Acting CEO, Mr. Riaan Koppeschaar, who will continue in his role as Finance Director,” Exxaro said in a statement.
Magara, a qualified Mining Engineer, brings more than 35 years of experience in both soft and hard rock mining. He is known for driving operational efficiency and providing strategic leadership across major mining operations.
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Exxaro Chairman Geoffrey Qhena expressed confidence in Magara’s ability to steer the company forward.
“We are confident Ben will stabilise the organisation and continue to drive our growth and sustainability strategy, particularly with the knowledge he brings from being chairman of our Investment Committee," Qhena said."
"Ben’s deep experience as an engineer, mine manager, corporate leader, and listed company CEO will be invaluable to Exxaro as we continue to maximise the value of our current assets while accelerating our prudent transition into a diversified minerals and renewable energy solutions business," he added.
Geraldine Fraser-Moleketi, exxaro's lead independent director and a member of the Nomination Committee, highlighted the unanimous support for Magara’s appointment.
“I’m delighted to say that Ben’s appointment had the unanimous support of our Board. As a trusted and experienced CEO, he has excellent knowledge of the company and industry and is well-prepared to lead,” Fraser-Moleketi said.
Meanwhile, responding to his appointment Magara said he was honoured to take up the new role.
"I am honoured to be taking up the role of Exxaro CEO, and excited to have the opportunity to utilise our strong coal foundation as a base from which to expand our 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 Non-Executive 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.
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