Exxaro shifts beyond coal as earnings hold firm & Middle East war threatens global fertiliser supply

Stephen Grootes speaks to Ben Magara, CEO of Exxaro Resources about their latest results, which reflect a resilient performance despite weaker coal prices, with headline earnings per share up 8% and revenue edging higher on disciplined cost management. The results come at a strategic inflection point for the group as it pivots beyond coal, highlighted by its R10.6 billion acquisition of a stake in the Tshipi Borwa manganese mine positioning Exxaro in a key energy transition mineral alongside continued investment in renewable energy through its Cennergi division. With a higher dividend and a shift in capital allocation, the focus now turns to execution, integrating new assets and driving growth in a more diversified portfolio.

In other interviews, Thabile Nkunjana, Agricultural economist talks about the growing risks to global fertiliser markets and food security as conflict in the Middle East disrupts key supply routes and production hubs. With a significant share of the world’s fertiliser trade moving through the Strait of Hormuz, supply constraints are already pushing prices sharply higher particularly for nitrogen-based products like urea that are critical for crop yields. We look how rising input costs could filter through to farmers, squeeze margins, and ultimately impact food prices, especially in import-reliant countries like South Africa, where the knock-on effects could be felt across the entire agricultural value chain.

The Money Show is a podcast hosted by well-known journalist and radio presenter, Stephen Grootes. He explores the latest economic trends, business developments, investment opportunities, and personal finance strategies. Each episode features engaging conversations with top newsmakers, industry experts, financial advisors, entrepreneurs, and politicians, offering you thought-provoking insights to navigate the ever-changing financial landscape.  
  
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