Kuala Lumpur: OM Holdings Ltd’s (OMH) subsidiary, OMH (Mauritius) Corp (OM Mauritius), has announced a conditional binding agreement with Exxaro Resources Ltd to sell its 26 percent interest in Ntsimbintle Mining Proprietary Ltd (NMPL) for approximately US$101.4 million. NMPL holds a 50.1 percent interest in Tshipi © Ntle Manganese Mining (Pty) Ltd (Tshipi), which operates the Tshipi Borwa Mine in South Africa.

According to BERNAMA News Agency, the transaction includes OM Mauritius’ shares in NMPL and its associated marketing rights. Ntsimbintle Holdings Proprietary Ltd (NH) owns the remaining 74 percent of NMPL. The completion of this transaction is contingent upon the successful sale of NH’s stake in NMPL and approval from relevant authorities.

OMH’s executive chairman and CEO, Low Ngee Tong, described the consideration from Exxaro, a bulk commodity and energy company in South Africa, as an opportunity to unlock value for OMH and reinvest capital into its core business operations. He expressed enthusiasm for establishing a new commercial relationship with Exxaro for the Tshipi manganese ore business.

The transaction is expected to close in early 2026, pending regulatory approvals and fulfillment or waiver of suspensive conditions. Upon closing, Exxaro will pay 95 percent of the transaction consideration to OM Mauritius, with the remaining five percent held in escrow for 12 months post-closing as per an agreed escrow agreement.