Climate Changed
South African Coal Miner Plans New Climate Change Strategy
- Exxaro says it’s responding to carbon-constrained environment
- Company to extract value as quickly as possible from assets
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South Africa’s Exxaro Resources Ltd. said it’s working on a new strategy for its business founded on coal mining amid investor and public concerns about the impact of climate change.
The company said it’s planning “structural changes,” including clean-power initiatives, to make the business sustainable in the long term. In the meantime, Exxaro will extract “as much value as quickly as possible” from the assets it holds, especially thermal coal, Chief Executive Officer Mxolisi Mgojo said on Thursday.