Exxaro joins manganese institute as it advances transaction
South Africa-based diversified natural resources company Exxaro Resources has joined the International Manganese Institute (IMnI), an organisation for producers and other stakeholders in the manganese space.
The IMnI represents over 130 member companies in more than 30 countries.
Exxaro has operations in South Africa, with business interests extending to Europe and Australia.
The company’s primary assets include coal; a growing energy solutions business; equity accounted investments in iron-ore and base metals, predominantly zinc; and acquisitive growth ambitions in energy transition metals, with a manganese transaction currently under way.
As reported by Mining Weekly this week, the binding agreements of Exxaro to acquire manganese assets advanced further late last month with the fulfilment of the first transaction conditions.
Exxaro has entered into binding agreements to acquire shares and claims in manganese assets held by Ntsimbintle Holdings and OM Holdings in a “transformational” R11.67-billion transaction.
The assets in question, located within the globally significant Kalahari Manganese Field in the Northern Cape, comprise 74% of Ntsimbintle Mining; 19.99% of Jupiter; 100% of Ntsimbintle Marketing and Trading; 51% of Mokala; and 9% of Hotazel Manganese Mines, the publication reported.
Through the acquisition, Exxaro gains exposure to four operating mines, including 60.1% effective ownership in the Tshipi Borwa mine, 51% in Mokala and 9% in Hotazel Manganese Mines, which operates the Mamatwan and Wessels mines, the article reads.
The acquisition of select manganese assets from Ntsimbintle and OM Holdings has become unconditional, Exxaro stated in a stock exchange announcement.
The Mokala sale transaction remains subject to the fulfilment of the remaining suspensive conditions, with the long stop date also now February 27. A further announcement will be made in due course regarding remaining suspensive conditions.
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