It was announced yesterday that an Australian group, OM Holdings, had bought a 20% share in Ntsimbintle Mining. Ntsimbintle Minginhas is partnering with Pallinghurst Co-Investors to form a company called Tshipi e Ntle, which plans to develop and run a new manganese mine near Hotazel in the Northern Cape.

OM Holdings (OMH) is a listed company on the Australian Stock Exchange and they have reportedly paid R320m for their 20% stake in Ntsimbintle Mining. OMH is also seeking to acquire the 49.9% interest that Pallinghurst has in Tshipi in exchange for 139.9m OMH shares.

The manganese reserves in Kalahari Basin are vast and this new mine, backed by foreign investment, is hoping to be the first of numerous new developments in the region.

Reported by Fin24