Exxaro Sharpens M&A Focus After Copper Mine Loss to China
- Coal miner diversifying into both metals and renewable energy
- South Africa has a growing market for private power generation
Copper ore.
Photographer: Andrey Rudakov/BloombergThis article is for subscribers only.
Exxaro Resources Ltd. Chief Executive Officer Nombasa Tsengwa is sharpening the South African coal producer’s diversification strategy, after failing to acquire new mining and energy assets.
The Johannesburg-based company made it onto a shortlist for buying a copper mine in Botswana last year, but was ultimately outbid by China’s MMG Ltd., which acquired the Khoemacau project for $1.9 billion.