Exxaro Resources expects that Russia’s invasion of Ukraine will trigger a renewed European energy crisis, while presenting opportunities for the South African miner as European coal plants scramble to find high-quality coal. CEO Mxolisi Mgojo said though that, with the conflict having pushed coal spot prices beyond $400 a ton, it could hasten the energy transition toward green alternatives. His sentiment was shared by John Meyer of SP Angel, who said “High oil and gas prices will simply persuade more companies and consumers to invest in alternative energy supplies as oil and gas are increasingly associated with atrocities and war within Europe”.
