POSCO, the South Korean steel manufacturer, announced recently that it was purchasing a 13% stake in the Kalahari manganese mine in the Northern Cape.

POSCO said the purchase will be made by joining international consortium Pallinghurst. POSCO’s investment is said to be valued at $200 million.

This purchase will enable the steel maker to secure an annual supply of 130,000 tonnes of manganese or a quarter of its annual needs.