Grace Quigley
Snr Adviser External Comms •
Sydney
Media Release: Clayton Utz advising JSE-listed Exxaro Resources Limited on the Australian aspects of its A$1.25 billion acquisition of manganese assets
1 minute
Clayton Utz is advising Exxaro Resources Limited (JSE: EXX) on its conditional acquisition of a 19.99% interest in ASX-listed Jupiter Mines Ltd (ASX:JSM). This forms the Australian component of Exxaro's broader acquisition of various investee companies held by Ntsimbintle Holdings Proprietary Limited and OMH (Mauritius) Corp, for a maximum closing price of approximately R14.64 billion (A$1.25 billion), and announced on Tuesday to the Johannesburg Stock Exchange.
Corporate partners Mark Paganin and Stephen Neale are leading the firm's team together with senior associate William Davies, with key support from senior associate Tashreen Tourabaly and lawyer Victoria Bandurski.
As part of the transaction, Exxaro will acquire 74% of Ntsimbintle Mining (Pty) Ltd from Ntsimbintle Holdings and 26% from OMH, giving Exxaro a total of 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.
A constituent of JSE's Top 40 Index, Exxaro is one of South Africa’s largest and foremost black-empowered resources companies and is among the top five coal producers in South Africa. Its diversified asset portfolio includes interests in thermal coal, a growing renewable energy solutions business and equity-accounted investments in ferrous (iron ore) and zinc, among other base 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.