{"id":852603,"date":"2026-03-02T08:56:31","date_gmt":"2026-03-02T06:56:31","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=852603"},"modified":"2026-03-02T08:56:37","modified_gmt":"2026-03-02T06:56:37","slug":"south-african-mining-giant-completes-deals-worth-r10-6-billion","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/business\/852603\/south-african-mining-giant-completes-deals-worth-r10-6-billion\/","title":{"rendered":"South African mining giant completes deals worth R10.6 billion"},"content":{"rendered":"\n<p>Exxaro has completed the acquisition of select manganese assets from Ntsimbintle Holdings and OMH, diversifying its resource mix. <\/p>\n\n\n\n<p>Following the fulfilment of all supplementary conditions, except those relating to Mokala, the transactions have been implemented. <\/p>\n\n\n\n<p>The R10.6 billion total consideration for the deal, which was settled from the cash reserve by Exxaro, was transferred to the sellers. <\/p>\n\n\n\n<p>Following the implementation of the First Sale Transaction and OMH Transaction, Exxaro, via its wholly-owned subsidiary, now holds a compelling equity interest in the Target Assets as follows:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>100% of Ntsimbintle Mining (which owns 50.1% of the Tshipi Borwa Mine, with the remaining 49.9% owned by Jupiter);<\/li>\n\n\n\n<li>19.99% of Jupiter;<\/li>\n\n\n\n<li>100% of Ntsimbintle Marketing; and<\/li>\n\n\n\n<li>9% of Hotazel,<\/li>\n<\/ul>\n\n\n\n<p>&#8216;We are accelerating the prudent delivery of our strategy, and we are pleased with the successful implementation of this transaction,&#8221; said Ben Magara, Exxaro CEO. <\/p>\n\n\n\n<p>&#8220;Exxaro becomes a globally significant manganese producer with its interest in Tshipi Borwa mine, the world&#8217;s 4th largest manganese mine in South Africa&#8217;s Kalahari Manganese Field, home to approximately 80% of the world&#8217;s known manganese resources.&#8221; <\/p>\n\n\n\n<p>The group said that Tshipi is a world-class, long-life asset, which is favourably positioned on the industry cost curve. <\/p>\n\n\n\n<p>The acquisition also includes the marketing entities and equity interest in Hotazel Manganese Mines. <\/p>\n\n\n\n<p>The group said its previously maintained R12 to R15 billion cash buffer will no longer be maintained following the sale. <\/p>\n\n\n\n<p>The group has also recently concluded the refinancing of our R13 Billion corporate facilities. It is thus reviewing its allocation framework, taking into account the cyclical nature of commodity prices. <\/p>\n\n\n\n<p>&#8220;Exxaro has the requisite bulk mining, logistics and marketing capabilities, and we are looking forward to working with our joint venture partners to maintain stable operations and unlock opportunities together, for the benefit of all our stakeholders,&#8221; said Magara. <\/p>\n\n\n\n<p>The group noted that the Mokala Sale Transaction remains subject to the fulfilment of remaining conditions, with the Long Stop Date of the deal being 27 February 2027. <\/p>\n\n\n\n<p>The Mokala deal will see the group acquire another manganese mine. The deal will see Exxarro acquire a 51% stake in Mokala. Exxaro is predominantly a coal miner with a market cap of R67 billion.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Exxaro has deals worth R10.6 billion to acquire manganese assets and mines across South Africa, as it diversifies its resource mix. <\/p>\n","protected":false},"author":95,"featured_media":810943,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9872],"tags":[11085],"class_list":["post-852603","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-exxaro"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/852603","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/95"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=852603"}],"version-history":[{"count":3,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/852603\/revisions"}],"predecessor-version":[{"id":852610,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/852603\/revisions\/852610"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/810943"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=852603"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=852603"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=852603"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}