Exxaro to acquire a portfolio of manganese assets from Ntsimbintle and OM Holdings for ZAR11.67bn.

Exxaro, a South African diversified resources mining company, agreed to acquire a portfolio of manganese assets from Ntsimbintle, a mining investment company, and OM Holdings, a manganese and silicon metals company, for ZAR11.67bn. "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," Ben Magara, Exxaro CEO.