Chief executive officers' review

This is the first report to shareholders under our new brand as Exxaro — a new-era South African company in the truest sense because it represents this country through diversity, empowerment and development at every level, from supporting entrepreneurship in the communities around our operations to equality and fulfilment in the workplace to national socio-economic development initiatives.
— Dr Con Fauconnier, chief executive officer

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KEY HIGHLIGHTS

»	Historic empowerment transaction successfully concluded
»	Earnings not comparable
»	Good operating results
»	Coal production reaches 24 million tonnes
»	Strong project pipeline for transformed group
»	Options to acquire Namakwa Sands and a 26% interest in Black Mountain/Gamsberg exercised post December 2006

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Annual Report 2006