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Financial|Maintenance
Financial|Maintenance
financial|maintenance

South32’s Samancor Manganese to sell Metalloys smelter to South African company

An image showing the Metalloys manganese alloy smelter

Metalloys manganese alloy smelter

13th June 2024

By: Tasneem Bulbulia

Deputy Editor Online

     

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South32 subsidiary Samancor Manganese has entered into a binding agreement for the sale of the Metalloys manganese alloy smelter, in Gauteng, to Khwelamet, an entity jointly owned by Menar and Ntiso Investing Holdings.

Completion of the transaction is subject to certain conditions, including competition approval and regulatory approvals, which are expected to occur in the second half of the 2025 financial year, at which time the buyer will assume the assets and liabilities comprising Metalloys.

Samancor stopped production at Metalloys in March 2020 and will keep the site on care and maintenance until ownership transfers to the buyer.

Samancor is owned 60% by South32, with the remaining 40% owned by Anglo American. 

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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