Exxaro in R12bn deal to buy Macozoma manganese mining assets

Exxaro Resources is set to buy a portfolio of manganese assets from an entity led by Saki Macozoma in a landmark deal worth nearly R12bn that would propel the coal miner into the manganese sector on a big scale.

The agreement, announced on Tuesday, will give Exxaro controlling stakes in several major manganese mines in the Northern Cape. The deal involves Ntsimbintle Holdings and OMH Mauritius, a unit of Australia’s OM Holdings…