Exxaro Resources Limited (Exxaro) has won Ethical Boardroom magazine’s Best Corporate Governance Award in the mining category in the Africa region for 2015.
The global publication delivers in-depth coverage and analysis of governance issues such as leadership, committees and quorum, ethics and compliance, shareholder engagement, activism and risk management strategies. Each year, a panel of four adjudicators scores entrants under four pillars, being Board Composition, Board Committees, Shareholder Rights and Transparency and 120 governance factors. The awards recognise companies which have exhibited exceptional leadership in the area of governance and highlight the important role that corporate governance plays in dictating a company’s success and a board’s contribution to the creation of long-term value.
Exxaro chief executive officer, Sipho Nkosi, says governance has always been a critical strategic element for Exxaro and that this focus has deepened in recent years. “We have developed a bespoke corporate governance strategy, in enablement and support of the overall group strategy. The focus has turned to the value added to the business by good corporate governance (be it in real financial metrics such as share price performance or, inter alia, improved reputation and stakeholder support) rather than a tick box approach, which is often followed by many companies that have not recognised the real impetus for and impact of good corporate governance.
“We believe that delivering on this strategy, underpinned by strong executive and board support setting the corporate governance tone from the top, as well as a commitment to excellence (one of our values and demonstrated by many of the local and international awards we receive on an annual basis) is what has enabled us to be recognised by this award. Although we do not direct our activities for purposes of being recognised, it is always delightful to receive a confirmation that the excellence we aspire to is indeed visible and tangible to independent evaluators.”
Note to editor:
Exxaro is one of the largest South African-based diversified resources groups, with interests in the coal, titanium dioxide, ferrous and energy commodities and current operations and projects in South Africa, Botswana, Republic of Congo, China and Australia. Exxaro is the second-largest coal producer in South Africa with current production of 40 million tonnes per annum. The group is listed on the JSE Limited, and is a constituent of the Socially Responsible Investment (SRI) index.
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