By: The Edge Malaysia

OM Holdings Ltd (KL:OMH), which is dual-listed in Australia and Malaysia, said it has secured key regulatory and shareholder approvals for the sale of its 26% stake in Ntsimbintle Mining Proprietary Ltd (NMPL) to South Africa-based Exxaro Resources Ltd.

NMPL holds a 50.1% stake in Tshipi é Ntle Manganese Mining, operator of the Tshipi Borwa mine in South Africa’s Kalahari Manganese Field, which is among the largest manganese operations globally of high-grade manganese by production and export volume, located in the Northern Cape province of South Africa.

The transaction, valued at about RM449.5 million, was undertaken through OM Holdings’ wholly owned subsidiary OM Mauritius.

Branded Image
Branded
Malaysia’s Climate Catalyst: KWAP’s RM2 billion Dana Iklim+
KWAP launches RM2 billion Dana Iklim+, the country's first dedicated climate investment fund, aimed at accelerating Malaysia's low-carbon economy while delivering sustainable returns. The fund targets infrastructure, private equity, real estate, and nature-based solutions, aligning with Malaysia's NDC 3.0 goal to reduce emissions by up to 30 million tonnes by 2035.

According to the group, the deal has been approved by South Africa’s Minister of Mineral Resources and Energy, and cleared by the competition authorities. Shareholders of Ntsimbintle Holdings have also approved it, with escrow arrangements and insurance in place.

While the sale is subject to a few more conditions being met, the company expects completion in early 2026.

“We look forward to completing the transaction successfully, unlocking value from our long-term investment, and begin a shift towards the next chapter for OMH,” said executive chairman and CEO Low Ngee Tong in a statement.

OM Holdings entered into a conditional binding sale and purchase agreement with Exxaro in May this year.

OM Holdings has an effective 13% interest in the mine, and according to its company website, processes between 3.3 million and 3.6 million tonnes of manganese ore annually.

Shares of OM Holdings were unchanged at 71 sen at Tuesday’s midday break, valuing the group at RM524.4 million.