Exxaro Resources is honoured to announce that it has been awarded the BEE Deal of the Year at the 2025 DealMakers Annual Awards, in recognition of its landmark manganese transaction. The award follows a rigorous adjudication process, where shortlisted transactions are evaluated by an independent panel against criteria including transformational impact, execution complexity, innovation in structuring, regulatory considerations, and the extent to which a transaction advances meaningful Broad-Based Black Economic Empowerment.
Exxaro’s acquisition of select manganese assets from Ntsimbintle Holdings and OMH stood out as a truly transformational deal, propelling Exxaro’s acquisitive growth ambitions in energy transition metals. This adds meaningful diversification in Exxaro’s diversified natural resources portfolio with a strong coal base, a growing energy solutions business and equity accounted investments in iron ore and base metals. The transaction also unlocks long-term value through enhanced empowerment participation, strengthened partnerships, and a structure designed to deliver sustainable economic inclusion.
The deal was the first of its kind in the manganese sector and was executed through a multi-layered process involving complex structuring, regulatory approvals, and coordinated stakeholder engagement. Despite these complexities, the transaction was executed with discipline and strategic clarity, reflecting Exxaro’s ability to deliver on sophisticated corporate actions while remaining anchored to its Sustainable Growth and Impact strategy.
CEO Ben Magara said: “This recognition is a significant milestone for Exxaro. Our manganese transaction reflects the deliberate choices we are making to reshape our portfolio while deepening meaningful transformation in the sector. Valued at R11.67 billion, this transaction brings together two large successful BEE mining companies in South Africa, showcasing how collaboration, shared goals and innovative structuring can deliver both meaningful transformation and strong commercial outcomes. As an organisation, we remain committed to pursuing transactions that create long-term value for our shareholders, our partners and the communities we serve.”
This recognition underscores Exxaro’s continued commitment to transformation beyond compliance, driving transactions that meaningfully shift ownership, create shared value, and contribute to a more inclusive mining industry.
As previously announced, the transaction (excluding the Mokala mine) became unconditional at the end of January 2026. Exxaro anticipates concluding the transaction on or before 27 February 2026.
We extend our appreciation to our advisors, partners and stakeholders whose collaboration and dedication were instrumental in delivering this award-winning transaction.