Saki Macozoma Sells Manganese Assets To Exxaro In 638 Million Deal

Exxaro will acquire full ownership of Ntsimbintle Mining, buying 74 from Ntsimbintle Holdings and 26 from OM Holdings.

The deal includes stakes in Jupiter Mines, Mokala, and Hotazel, expanding Exxaros manganese footprint across four operating mines in South Africas Northern Cape.

Valued at 638 million and rising to 800 million with tag-along rights, the deal supports Exxaros shift from coal to energy-transition metals like manganese.

South African mining magnate Saki Macozoma has finalized the sale of a portfolio of high-quality manganese assets to Exxaro Resources in a landmark 638 million transaction. The transaction was executed through his investment company, Ntsimbintle Holdings, in partnership with Singapore-based OM Holdings.

The sale marks a significant step for both Macozoma and Exxaro. For Ntsimbintle, it represents a timely exit from a valuable investment. For Exxaro, its a bold move to broaden its business beyond coal and into minerals like manganese, which play an essential role in steel production and emerging battery technologies.

Located in South Africas Northern Cape Province, the assets are known for their long operational life and strong cash flow. With this acquisition, Exxaro is positioning itself for steady growth as it adapts to a changing global energy landscape.

Subject to regulatory approval and expected to close in Q1 2026 , the transaction will give Exxaro full control of Ntsimbintle Mining by acquiring a combined 100 percent stake74 percent from Ntsimbintle Holdings controlled by Macozomas Safika resources and 26 percent from Singapore-based OM Holdings, an ASX-listed manganese and ferro-alloy producer. OM Holdings exit consolidates Exxaros complete ownership of the asset.

Exxaro is also acquiring 19.99 percent of ASX-listed Jupiter Mines, 100 percent of Ntsimbintle Marketing and Trading, 51 percent of Mokala Manganese Mine, and 9 percent of Hotazel Manganese Minessecuring exposure to four producing operations, including Tshipi Borwa, Mamatwan, and Wessels.