Grace Quigley
Manager External Comms •
Sydney
Media release: Clayton Utz advises Exxaro on the closing of its A$930 million acquisition of manganese assets
1 minute
Clayton Utz is pleased to have advised Exxaro Resources Limited (JSE: EXX) on its acquisition of a 19.99% interest in ASX-listed Jupiter Mines Ltd (ASX:JMS) as part of Exxaro's broader acquisition of various investee companies held by Ntsimbintle Holdings Proprietary Limited and OMH (Mauritius) Corp for a closing price of approximately R10.6 billion (A$930 million). The transaction was announced to the Johannesburg Stock Exchange and the ASX on 13 May 2025. Closing was announced to the market yesterday.
Corporate partners Mark Paganin and Stephen Neale led the firm's team together with senior associates William Davies and Victoria Bandurski, and lawyers Imogen Farmer and Sabrina Bullock.
Exxaro now holds an effective equity interest in 100% of Ntsimbintle Mining who together with Jupiter are the joint owners of the Tshipi Manganese Mine. Located in the Kalahari Manganese Field in the Northern Cape of South Africa, the mine contains around 75% of the world’s manganese resources.
Exxaro Resources Limited is a South Africa-based diversified natural resources company and one of the largest black empowered businesses listed on the Johannesburg Stock Exchange (JSE). Exxaro has operations in South Africa, with business interests extending to Europe and Australia. The company’s primary assets include coal, a growing energy solutions business, equity accounted investments in iron ore and base metals, predominantly zinc, with acquisitive growth ambitions in energy transition metals.
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Clayton Utz communications are intended to provide commentary and general information. They should not be relied upon as legal advice. Formal legal advice should be sought in particular transactions or on matters of interest arising from this communication. Persons listed may not be admitted in all States and Territories.