Exxaro Resources to Acquire Manganese Assets for $640M in South Africa

Exxaro Resources has acquired manganese assets in South Africa’s Kalahari Manganese Field for ZAR11.67 billion ($640 million), with potential adjustments up to ZAR14.64 billion ($800 million). The deal includes 74% of Ntsimbintle Mining, 19.99% of Jupiter, 100% of Ntsimbintle Marketing and Trading, 51% of Mokala, and 9% of Hotazel Manganese Mines, plus full ownership of Ntsimbintle Mining after acquiring OM Holdings’ 26% stake.

Exxaro announces acquisition of manganese assets in South Africa.

This grants Exxaro stakes in four mines, including 60.1% of Tshipi Borwa Mine. CEO Ben Magara said: “This transaction puts together two strong BEE companies who are both consistent dividend payers and positions Exxaro as formidable and diversified mining company of reference in South Africa and I am delighted that we can utilise our strong coal resources as a base to prudently accelerate our asset portfolio to include transition minerals and to grow our energy solutions business. This acquisition provides Exxaro with a strong entry point into the manganese sector.”

Manganese supports steelmaking and battery technologies. Exxaro’s expertise will drive growth in the region. The deal, set to close in Q1 2026 pending approval, supports South Africa’s low-carbon economy through renewable energy integration and sustainable mining.