JOHANNESBURG, March 13 (Reuters) - Exxaro Resources (EXXJ.J) , opens new tab, a South African coal miner, said it has appointed veteran mining executive Ben Magara as its new CEO following the departure of Nombasa Tsengwa.

Magara, a former CEO of platinum miner Lonmin and a former executive at Anglo American, will assume the role of CEO effective April 1, 2025. He will take over from acting CEO Riaan Koppeschaar, who will continue his role as finance director.

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The new CEO is expected to steer the coal miner amid declining profits due to lower prices for the fossil fuel as well as drive Exxaro's diversification into green energy transition minerals, Chairman Geoffrey Qhena said in a statement.

The South African miner said its profit declined to about 7 billion rand ($381.44 million) in 2024, from nearly 11 billion a year earlier. Exxaro cut its dividend to 8.7 rand per share from 10.10 rand previously.

Magara was CEO of platinum miner Lonmin when it was acquired by rival Sibanye Stillwater in 2019. He is succeeding Tsengwa, who resigned after , opens new tab being suspended by the board, which had initiated an investigation into her governance conduct.

($1 = 18.3516 rand)

https://www.reuters.com/markets/commodities/south-africas-exxaro-names-veteran-mining-executive-ben-magara-new-ceo-2025-03-13/