In a major step toward diversification, JSE-listed Exxaro Resources has announced its transformation into a fully-fledged minerals and energy solutions company, marking a significant milestone in its strategic evolution.
The company has entered binding agreements to acquire shares and claims in key manganese assets held by Ntimbintle Holdings and OM Holdings, in a transaction valued at R11.67 billion.
This move not only strengthens Exxaro’s position in the South African mining sector but also aligns with national goals for sustainable development and economic growth.
The acquisition gives Exxaro access to high-potential assets located in the Kalahari Manganese Field (KMF) in South Africa’s Northern Cape. The deal includes:
74% of Ntsimbintle Mining
19.99% of Jupiter Mines
100% of Ntsimbintle Marketing and Trading
51% of Mokala Manganese Mine
9% of Hotazel Manganese Mines, which operate the Mamatwan and Wessels mines
Through this transaction, Exxaro gains exposure to four operating manganese mines, including an effective 60% stake in the Tshipi Borwa mine, 51% in Mokala, and 9% in Hotazel.
CEO Ben Magara emphasized the strategic importance of the acquisition:
“This transaction brings together two black-owned, dividend-paying companies and positions Exxaro as a formidable, diversified mining company of reference in South Africa.
I’m proud that we can leverage our strong coal foundation to accelerate our portfolio expansion into transition minerals and energy solutions.”
Magara noted that the deal is value-, earnings-, and cashflow-accretive from day one, supporting Exxaro’s strategy to develop a future-fit portfolio that responds to global sustainability trends.
He stressed that manganese, a critical mineral used in steelmaking and increasingly vital in battery and renewable energy supply chains, plays a central role in the company’s diversification.
These long-life assets offer reserves lasting well over a decade, commodity diversity, and access to established infrastructure and stable markets in China and India.
Importantly, the mining methods employed — bulk and open-pit operations — align with Exxaro’s core technical strengths, creating operational synergies.
The acquisition also supports local beneficiation, job creation, and infrastructure development, contributing to national development priorities.
“We made this investment with a strong focus on safety, efficiency, and environmental responsibility,” Magara added. “It’s also about ensuring our growth uplifts local communities through employment, skills development, and long-term social impact.
This reinforces our role as a purpose-driven, proudly South African company.”
Looking ahead, Magara said Exxaro is eager to partner with established mining firms and strong local teams in the KMF to unlock further value for South Africa’s economy.
