Jupiter Mines Limited announced that Exxaro Resources Limited has entered into a binding agreement to acquire key manganese mining assets in South Africa, including a 50.1% stake in the Tshipi Manganese Mine. As part of the transaction, Exxaro will also secure a 19.99% shareholding in Jupiter Mines Limited by purchasing 392,012,248 fully paid ordinary shares from Ntsimbintle Holdings at ZAR 3.69 per share (approximately A$0.317 per share). This strategic move will see Exxaro replace Ntsimbintle Holdings as the largest shareholder in Jupiter Mines Limited. The acquisition by Exxaro is currently subject to regulatory approvals in South Africa. Under the terms of the arrangement, following the satisfaction of all conditions, Jupiter Mines Limited will retain the remaining 49.9% interest in Tshipi and continue to exercise joint control over its operations. Importantly, the existing Tshipi Shareholders Agreement remains unaffected by this deal, ensuring that Jupiter’s pro rata marketing rights for Tshipi’s ore remain intact. The company expressed enthusiasm about the partnership, emphasizing that Exxaro brings considerable South African operational expertise which is expected to enhance the growth prospects and value creation potential across its Kalahari Manganese Field. Investors are invited to join a call hosted by Managing Director and Chief Executive Officer Brad Rogers on 14 May 2025, with sessions scheduled at 9.00am AWST / 11:00am AEST. This event will provide additional insight into the transaction and the strategic direction of Jupiter Mines Limited. Further details on the acquisition and Exxaro’s other recent moves can be found in Exxaro’s announcement on the Johannesburg Stock Exchange. Bullish sentiment prevails as the partnership with Exxaro is seen as a catalyst for growth, potentially unlocking significant operational and value enhancements within the manganese sector. The injection of South African mining expertise and the strengthening of Jupiter Mines Limited’s capital structure are expected to bolster investor confidence. However, some caution is warranted given that the transaction remains subject to regulatory approvals, which could introduce delays or uncertainties affecting the immediate execution of strategic plans.