Diversified mining and metals group Kumba Resources today re-listed on the JSE as Exxaro Resources, a result of the landmark empowerment transaction involving Kumba, Anglo American, the Industrial Development Corp and Eyesizwe Mining. Exxaro is South Africa’s flagship empowerment mining company and as South Africa’s largest black-controlled, diversified resources company, is well positioned to grow organically. Its existing operational interests in South Africa, Namibia, Australia and China and a strong project pipeline provides the group with a base for growth both locally and offshore. Speaking at the company’s listing event, Exxaro’s Chief Executive Officer, Dr Con Fauconnier, said: “This is an extremely proud moment for Exxaro and for the industry in which we operate. Kumba Resources, Eyesizwe Coal, and now Exxaro have always been committed to creating a globally competitive South African mining company that fully reflects the country in all respects. Exxaro meets these critieria and we expect investors to acknowledge the value held within Exxaro and the exceptional potential of the company.” Exxaro is currently the fourth largest coal producer in South Africa and its mineral sands business is unique in being the only integrated producer from mine to pigment. The company is the only zinc producer in the country. The company holds a significant iron ore interest through a 20% stake in the Sishen Iron Ore Co, part of the Kumba Iron Ore group, which operates the Sishen and Thabazimbi iron ore mines in South Africa. Sishen Iron Ore is the world’s fourth largest iron ore exporter.Exxaro’s short-term strategy is to consolidate and integrate the assets, operations and projects of Kumba, Eyesizwe Coal and Namakwa Sands for maximum benefit and to optimise the potential synergies of the enlarged group. The company intends exercising an option offered as part of the transaction to acquire Namakwa Sands and a 26% stake in the Black Mountain operation and Gamsberg project from Anglo American. Exxaro’s CEO designate, Sipho Nkosi, said: “Exxaro is well positioned to leverage its employee expertise, strong operations base and growth pipeline to retain and further enhance its position as a leader in its chosen commodities.” The longer-term Exxaro strategy is to leverage the advantage it enjoys in South Africa’s Waterberg coalfield, where it has the only existing operating mine and high-quality reserves, and to satisfy growing domestic demand for power station coal, reductants and metallurgical coal. The ability to produce a full range of mineral sands products, global operations and high level of expertise lends itself to developing strategic opportunities.