OM HOLDINGS LIMITED announced that its wholly owned subsidiary, OM Mauritius Corp., has entered into a conditional binding Sale and Purchase Agreement with Exxaro Resources Limited for the sale of its 26% interest in Ntsimbintle Mining Proprietary Limited for a total consideration of ZAR 1.86 billion, which is approximately US$101.4 million. The sale includes marketing rights associated with the shares and represents an important step for the company in unlocking value and reallocating capital back to its core operations. The subsidiary holds 26% of NMPL, with the remaining interest held by Ntsimbintle Holdings Proprietary Limited, which together own a significant share in Tshipi é Ntle Manganese Mining, known for operating one of the largest manganese mines in South Africa. The mine is part of the world-class Kalahari Manganese Field in the Northern Cape, making the asset a key player in the global manganese market. Through its strategic investment, OM HOLDINGS LIMITED now has an effective 13% interest in Tshipi, underscoring the importance of its involvement in this high-value mining operation. The transaction, expected to close in early 2026 upon fulfilment of several suspensive conditions, is subject to key milestones. Among these are the execution of a new commercial agreement with Exxaro for the Tshipi manganese ore business, finalisation of an escrow agreement and a warranty and indemnity insurance policy in favour of Exxaro, and obtaining approvals from South African competition authorities and the South African Reserve Bank. At closing, Exxaro will pay 95% of the transaction amount immediately while the remaining 5% will be held in escrow for 12 months as security. Industry observers will note that the move could have mixed implications. On the bullish side, the sale is seen as a strategic maneuver to unlock capital and strengthen partnerships, with Exxaro’s involvement potentially paving the way for a deeper commercial relationship in the manganese ore business. This aligns well with OM HOLDINGS LIMITED’s efforts to focus on its core operations and streamline its asset portfolio. However, the transaction also carries bearish undertones. The deal is contingent upon several regulatory and commercial conditions that introduce execution risk, including reliance on the parallel sale of the remaining NMPL interest and various approvals, which may delay or complicate the overall process. Overall, the transaction is a significant strategic development for OM HOLDINGS LIMITED, reflecting its commitment to value creation while navigating the complexities of major asset sales in a dynamic mining sector.