The ousting in mid-October of Brian Gilbertson from Australia’s Jupiter Mines may have important consequences for South Africa’s manganese industry as it hands management control to the company’s largest shareholder, Ntsimbintle Holdings.
That’s important because Ntsimbintle Holdings is 74% controlled by Safika Resources, a scion of Saki Macozoma’s industrial empire. Macozoma, a Robben Islander with the late former president Nelson Mandela, has tended to operate away from the limelight, but in 2019 he nearly listed Ntsimbintle Mining in Johannesburg, only to pull the proposal at the last minute.
Market reasons, partly related to China’s volatility, were cited for the withdrawal of the listing. It’s a pity it didn’t proceed considering the rollercoaster ride manganese prices have been on. Currently, the metal is much in demand both as a hardening agent for steel, but also for its potential use in electric vehicle battery production.
This story is from the 5 November 2021 edition of Finweek English.
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This story is from the 5 November 2021 edition of Finweek English.
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