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Impressive renewable-energy advances were graphically displayed by coal major Exxaro during its Capital Day on Monday, June 22.

The first was a wind turbine involving 600 m3 of concrete in a 25 m excavation, elevated by a 15 t steel centre on a 60 t steel base, and the second a huge solar plant supplying green electrons. (Also watch attached Creamer Media video.)

"So, there's 76 t of steel in there to anchor a wind turbine," Exxaro CEO Ben Magara reported on the Kareebosch wind development before turning to the supply of 68 MW of solar power at the Johannesburg Stock Exchange-listed company's Lephalale coal hub.

Exxaro is reducing its carbon intensity through what is described as an "accelerated and workable decarbonisation road map".

In the past year, Exxaro has doubled its renewable-energy business and concluded its manganese transaction, amid the company's commitment to carbon neutrality by 2050 remaining unchanged.

"We're unwavering at making sure we're carbon neutral by 2050," an adamant Magara told the event covered by Mining Weekly.

Exxaro's last Capital Markets Day was hosted five years ago in 2021, when Exxaro was positioned for its low-carbon future.

As the world adopts a more pragmatic approach to energy security, Exxaro's own long-life coal assets remain critical in supporting global and domestic energy needs, and generating cash flows to invest in future-facing metals growth. This is envisaged against the expectation that the global runway for coal will likely extend beyond 2050.

"The world today is materially different from the one we faced in 2021. Globally, we're seeing increasing geopolitical fragmentation and trade realignment," Magara noted.

"Our renewable business represents an important growth platform, providing increased exposure to stable, predictable, and inflation-linked earnings, while supporting South Africa's transition to a low-carbon economy.

"We also have equity accounted investments in iron-ore and zinc. The addition of manganese and the growth of our renewable-energy business strengthen the diversification of our portfolio.

"Looking ahead to 2030, we expect energy and our future-facing metals to contribute more than half of the total group earnings, not by shrinking coal, but by growing others. So, importantly, coal stays the foundation of our portfolio, generating the cash flows required to fund the growth," Magara explained.

November 2026 will be the twentieth anniversary of Exxaro's JSE-listing in November 2006.

Current market capitalisation is R75-billion compared with R51-billion at the start of last year and R20-billion at the time of listing.

Figures displayed showed a business that supports more than 20 500 employees, including contractors.

More than R200-billion of stakeholder value has been created since listing with more than R85-billion rands in dividend distribution.

"As energy and metals grow, we'll contribute a larger share of earnings from manganese and energy, including the iron-ore assets, to enhance that diversification and drive the resilience of our earnings, most importantly reducing the carbon intensity of our earnings profile. That's the aim for this diversification programme.

"This shift reflects growth in these businesses rather than a decline in coal, and we expect coal to remain a significant contributor to the portfolio, even as its share of earnings decreases over time," Magara outlined.

In time, renewable energy and future-facing metals are expected to contribute more than half of the total group earnings.

This audio is brought to you by Endress and Hauser, a global leader in process and laboratory measurement technology, offering a broad portfolio of instruments, solutions and services for industrial process measurement and automation.

Boardmembers of Vale, the world's top iron-ore producer, voted against a proposal by one of the company's largest shareholders to remove Daniel André Stieler as chairperson, according to people familiar with the matter.

While the proposal will still go to a shareholder vote, the board decision could influence the recommendations of proxy advisory firms and institutional investors who will participate in the process. The chairperson's mandate is set to expire in April 2027 if he's not removed early.

Investor Previ, which has a 7% stake in Vale, asked on June 11 for an extraordinary meeting to vote on the removal of Stieler, who's been in the position since April 2023. The demand followed a shakeup of leadership at Previ, Brazil's largest pension fund, which manages retirement savings for employees of State-controlled lender Banco do Brasil.

The majority of directors saw the reasons Previ presented for the dismissal as insufficient, said two of the people familiar with the matter, who asked not to be identified discussing private information.

Vale declined to comment.

The extraordinary shareholder meeting is scheduled for July 22. If approved there, Previ's proposal would pave the way for separate votes to elect a new boardmember for the remainder of the term ending in 2027 and a new chairperson. That scenario would trigger a contest between Previ's candidates and alternative names supported by the majority of the current board.

Previ is backing the election of independent board director Manuel Lino Oliveira as chairman, according to a statement. Known as Ollie, he has more than 45 years' experience in corporate finance and strategy within the mining sector, mainly in companies such as Anglo American and De Beers Consolidated Mines.

By appointing an external candidate rather than someone from its own ranks for the chairman position, Previ said it was "reinforcing its commitment to the continuous improvement of the company's corporate governance and to the creation of sustainable long-term value." In a parallel move, the pension fund has also appointed José Mauricio Pereira Coelho, a former Previ CEO who had previously been chairperson of Vale from 2019 to 2021, to take over the vacant seat in the company's board.

The majority of Vale's board will nominate former BP executive Ieda Gomes Yell to run for a vacant seat against Coelho, the people said. Vale's current vice chairperson of the board, Marcelo Gasparino, will compete as an alternative to Oliveira as chairman of the mining giant. The attorney is also a member of the board of Petroleo Brasileiro, Brazil's oil giant. Candidates other than those put forward by Previ and Vale's board could still emerge ahead of the vote.

Stieler headed Previ for two years under Brazil's former President Jair Bolsonaro. He was elected to Vale's board in 2021 and later was appointed chairperson of the iron-ore producer even after he had stepped down from his position within Previ.

Last year, Previ President João Fukunaga stepped down as head of the pension fund after facing scrutiny from Brazil's Audit Court. He also left Vale's board in February, which weakened Stieler's support within the pension fund, Brazilian newspaper O Globo reported on June 13.

Vale's major shareholders include, among others, Mitsui, Blackrock and Capital World Investors.

Mining Weekly Editor Martin Creamer discusses July’s Shanghai Week, which is set to firm up platinum’s already solid status; Phelan Green selecting Johnson Matthey technology for its Saldanha electro‑sustainable aviation fuel plant; and platinum jewellery generating the highest d

This audio is brought to you by Endress and Hauser, a global leader in process and laboratory measurement technology, offering a broad portfolio of instruments, solutions and services for industrial process measurement and automation.

TSX- and NYSE-listed copper miner Hudbay Minerals has broken ground at the New Ingerbelle expansion project at the Copper Mountain mine, in British Columbia.

This marks a significant milestone for the operation and its long-term future in British Columbia.

With key permits in place, Hudbay is advancing important infrastructure required for the expansion, including an access road, a bridge across the Similkameen river and an east haul road connecting New Ingerbelle to existing operations.

Concurrently, the company has initiated a targeted drilling programme at New Ingerbelle, focusing on upgrading existing inferred resources to reserves to further optimise and extend the future mine life at Copper Mountain.

The groundbreaking ceremony on June 18 was attended by Hudbay's executive team, employees, the British Columbia Mining Association, the Chief of the Upper Similkameen Indian Band, leaders from the local community and British Columbia's Minister of Mining and Critical Minerals, Jagrup Brar.

The event was also recognised by Canada's Minister of Energy and Natural Resources, Tim Hodgson, saying in a video recording that Hudbay's groundbreaking is more than the start of a new mine expansion. "It is a signal of confidence in Canada's resource sector, in Canadian workers and in our ability to build big things."

Based on current mineral reserves, New Ingerbelle is projected to produce about 750 000 t of copper, 900 000 oz of gold and 5.5-million ounces of silver over the life-of-mine. It is designed to access higher-grade mineralisation while it also features a stripping ratio three times lower than that of the current mining areas.

The expansion is expected to generate significant economic benefits for British Columbia, including more than C$11.5-billion in provincial GDP, while supporting regional supply chains, contractors, local businesses and community investment across the Similkameen region and the province.

Hudbay president and CEO Peter Kukielski says New Ingerbelle is not just an expansion but a critical pillar of the group's long-term growth strategy in British Columbia.

"The opening of New Ingerbelle enhances the copper and gold production profile at Copper Mountain, secures more than 800 full-time jobs beyond 2040 and ensures the mine continues to deliver economic benefits at the local, regional and federal levels. Our efforts to optimise Copper Mountain, combined with the development of New Ingerbelle, will unlock significant long-term value for all of our stakeholders."

This audio is brought to you by Endress and Hauser, a global leader in process and laboratory measurement technology, offering a broad portfolio of instruments, solutions and services for industrial process measurement and automation.

Africa cannot afford fragmented voices any longer, South Africa's mining and energy leading light Mike Teke pointed out in an address at the Zimbabwe Chamber of Mines, where he highlighted the need for greater regional collaboration.

Speaking as FutureCoal Africa chapter chairperson, Teke invited governments, industry, and investors across Africa to participate actively in the Africa chapter and to help shape a balanced, secure and investment-ready energy future.

Founding support for the chapter has been provided by industry leaders in South Africa, Botswana, Mozambique and Zimbabwe, with its mandate extending to countries across the continent and its focus concentrated on coordinated engagement in technology, investment, energy security, and industrial growth.

While the reopening of the Strait of Hormuz was welcome news, Teke pointed out that recent events had demonstrated how quickly global energy markets could be disrupted.

"The lesson for governments is not about a single shipping route; it's about ensuring that countries have access to reliable domestic energy resources, resilient supply chains and secure industrial capacity. Energy security and affordability must come first, because without them, there can be no stable or sustainable transition," Teke explained.

Interestingly, he drew attention to the deployment of high-efficiency low-emission technology at Zimbabwe's Hwange power station's units 7 and 8 as a practical example of sustainable coal stewardship in action, alongside rehabilitation work on units 1 to 6 and Zimbabwe's broader exploration of coal gasification and coal-to-x pathways.

Particularly noteworthy is that Hwange Power's expansion is underpinned by FutureCoal's sustainable coal stewardship framework, which provides a practical roadmap for responsible coal production, emission reduction, technology deployment and industrial development.

"The issue is not whether coal exists, but how it is produced, used and its negative impacts mitigated. Sustainable coal stewardship provides a practical pathway for responsible development. Africa has the resources, the capability, and the people – we must now act with coordination and confidence," Teke advocated.

Teke, who is CEO and co-founder of Seriti Resources Holdings and the chairperson of renewable energy company Seriti Green, emphasised that Africa needed to position itself strategically within the changing global environment.