From Yahoo Finance: 2025-05-14 07:54:00

Exxaro Resources acquires manganese assets in South Africa for R11.67bn ($637.1m) from Ntsimbintle Holdings and OM Holdings in the Kalahari Manganese Field. The deal includes shares in Ntsimbintle Mining, Jupiter, Mokala, and Hotazel Mines. Exxaro’s entry into the manganese sector diversifies its coal base and positions it as a mining leader.

The acquisition expands Exxaro’s operations to four mines, including Tshipi Borwa, Mokala, and Hotazel. CEO Ben Magara sees the move as a strategic step into the manganese sector, essential for steelmaking and renewable technology. The deal is subject to regulatory approvals and expected to close in Q1 2026.

Exxaro’s broader strategy involves transitioning to a minerals and energy solutions business, with a focus on renewable energy and essential minerals like manganese and copper. The acquisition aligns with Exxaro’s goal of sustainable growth and stakeholder value creation in the Kalahari Manganese Field.

Safika and Ntsimbintle Holdings chairman Saki Macozoma views the deal positively, highlighting Exxaro’s commitment to safety, sustainability, and stakeholder value. The sale of manganese assets fits into Safika and Ntsimbintle’s long-term plan to strengthen their portfolio and generate shareholder value.

Earlier this year, Exxaro Resources faced leadership changes with the resignation of CEO Nombasa Tsengwa following a governance investigation. The acquisition of manganese assets solidifies Exxaro’s position as a leading South African mining company, expanding its portfolio and market presence.



Read more at Yahoo Finance: Exxaro to acquire manganese assets in South Africa for $637m