Exxaro Resources acquires manganese assets for R11. 67 billion in South Africa
The deal includes key assets within the Kalahari Manganese Field and will provide Exxaro with stakes in several operating manganese mines, including Tshipi Borwa, Mokala, and Hotazel manganese mines.
JSE-listed Exxaro Resources has announced its agreement to acquire manganese assets in South Africa for R11.67 billion.
In a statement issued to the media on Tuesday, the Eskom coal supplier said the acquisition enhances its commodity diversity and strengthens its position with long-life assets.
Ben Magara, CEO of Exxaro, said the acquisition provides Exxaro with a strong entry point into the manganese sector.
"This acquisition provides Exxaro with a strong entry point into the manganese sector. Manganese is essential to steelmaking and has a growing market in the battery and renewable technology supply chains." Magara said.
"The acquisition will see us deploy our operational and commercial expertise in bulk commodities, logistics, and deep knowledge of the South African mining landscape, including the regulatory environment, to unlock sustained growth and stakeholder value in the Kalahari Manganese Field.'
The company added that the acquisition was also part of its natural strategic commitment to building a sustainable, future-fit portfolio.
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