Khwelamet, a subsidiary of Khwela Capital, jointly owned by Menar Capital and Ntiso Investment Holdings, has signed a binding agreement to fully acquire Samancor’s Metalloys manganese alloy smelter complex based in South Africa’s Gauteng Province.
The deal marks a significant milestone in the company’s journey towards growing its portfolio. Khwela Capital’s shareholders, Menar Capital and Ntiso Investment Holdings, both bring experience in diverse sectors including energy, logistics, mining, and an existing manganese production pipeline.
The company intends to further develop the manganese alloy smelter complex, which is currently under care and maintenance after its operations ceased in March 2020. This strategic transaction, which will see the building of a vertically integrated manganese business, aligns with the company’s objective to revitalise industrialisation in key sectors and contribute to growing the economy. Completion of the transaction is subject to certain conditions, including competition approval and regulatory approvals.
About Khwelamet Pty Ltd
Khwelamet is a wholly owned subsidiary of Khwela Capital which is a joint venture between Menar Capital Pty Limited and Ntiso Investment Holdings Pty Limited.
Khwelamet shareholders
Menar Capital Pty Limited is a South African mining company with an expanding portfolio comprising diversified minerals such as thermal coal, anthracite, manganese, gold, and nickel. The company was co-founded and is led by Mr. Vuslat Bayoglu.
Ntiso Investment Holdings Pty Limited is a 100% black owned investment company with interest in energy, logistics, mining, industrial services, and financial sectors. Ntiso was founded and is led by Mr. Mcebisi Jonas.
About Samancor Manganese Proprietary Limited
Samancor is ultimately owned 60% by South32, with the remaining 40% ultimately owned by Anglo American plc. Samancor owns the Metalloys manganese alloy smelter in Meyerton in the Gauteng Province of South Africa.
For more information, contact:
Khwela Capital Corporate Communication
Siphiwe Tame
Tel: +27 11 783 7996
Email: pr@khwelacapital.com