Exxaro: The catalyst to something bigger?
The thermal coal producer is diversifying into the Northern Cape’s copious manganese resources, which are crying out for consolidation
After casting its line far and wide for three years to diversify from thermal coal production, Exxaro Resources now has its foot in the door in the Northern Cape’s manganese fields. About 70%-80% of the world’s total unmined manganese, a mineral primarily used in steel production, occurs there — enough to last at least 80 years.
Exxaro is buying 100% of Ntsimbintle Mining, a company controlled by veteran investor Saki Macozoma. The centrepiece asset is the profitable Tshipi Borwa mine, which produces 3.2Mt-3.4Mt a year of manganese. Including Ntsimbintle’s 19.9% stake in Jupiter Mines, an Australian firm, Exxaro comes out with 60.1% of Tshipi Borwa...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.