In one of the largest mining deals of the year, South African giant Exxaro Resources has successfully concluded a R10.6 billion acquisition of prime manganese assets. The deal, finalized on March 2, 2026, sees Exxaro taking control of select assets from Ntsimbintle Holdings and OMH. This includes a significant stake in the world-class Tshipi Borwa Mine, instantly making Exxaro a globally meaningful player in the manganese market.

Manganese is a critical component in the production of steel and increasingly important for the battery tech industry. By shifting its portfolio toward this strategic mineral, Exxaro is de-risking its future and moving away from a heavy reliance on coal. The acquisition was funded entirely through the company’s available cash reserves, demonstrating a remarkably strong balance sheet despite recent global economic volatility.

The transaction is being celebrated as a victory for black economic empowerment (BEE) in the mining sector. By working together with Ntsimbintle, Exxaro is fostering a “natural resources champion” that is both locally owned and globally competitive. The deal includes various marketing and mining rights, ensuring that the company controls the entire value chain from extraction to the global market.

Investors have reacted positively to the news, seeing it as a clear signal of Exxaro’s growth ambitions. With the Tshipi Borwa Mine now in its stable, the company is well-positioned to capitalize on rising mineral prices and the global industrial rebound. This R10.6 billion move is more than just a purchase; it is a fundamental pivot that secures Exxaro’s relevance in the 21st-century green economy.

SOURCE: BUSINESS INSIDER AFRICA