OM Holdings Completes Sale of 26% Stake in Ntsimbintle Mining to Exxaro Resources
OM Holdings Ltd has completed the sale of a 26% stake in Ntsimbintle Mining Proprietary Ltd (NMPL) to South Africa-based Exxaro Resources Ltd for RM474.12 million. This transaction marks OM Holdings' exit from the mining operation, which includes the Tshipi é Ntle Manganese Mining, a major manganese producer in the Kalahari region.
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OM Holdings Ltd finalized the sale of a 26% stake in Ntsimbintle Mining Proprietary Ltd (NMPL) to Exxaro Resources Ltd for RM474.12 million. The sale was executed through OM Holdings' wholly-owned subsidiary, OMH (Mauritius) Corp.
NMPL holds a 50.1% stake in Tshipi é Ntle Manganese Mining, which operates one of the largest manganese mines globally, located in Northern Cape, South Africa. The sale ends OM Holdings' involvement in the mine, which is significant for steel production and electric vehicle battery manufacturing. OM Holdings first announced its intention to divest in May to focus on core activities and strengthen its financial position.
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