Manganese, News & Features, Resource News
Macozoma’s Tshipi e Ntle to Build $200 Million South Africa Manganese Mine
By Bloomberg · February 8, 2011 · 12:15 am · Leave a Comment
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By Mike Cohen
Tshipi e Ntle Manganese Mining (Pty) Ltd., a mine developer in South Africa controlled by black investors, agreed to invest 1.45 billion rand ($200 million) to develop a manganese mine in the nation’s Northern Cape province.
Construction of the Tshipi Borwa mine, near the town of Hotazel, will begin in the first half and ore production will start within 18 months, the company said today in a statement. Tshipi e Ntle expects annual output of 2.4 million metric tons for at least 60 years, and a possible expansion to 5 million tons should “economic circumstances” allow, it said.
Tshipi e Ntle is 50.1 percent held by Ntsimbintle Mining, a group led by black investors and charities and chaired by Saki Macozoma, deputy chairman of Standard Bank Group Ltd., Africa’s largest lender. Singapore-based OM Holdings Ltd. is a shareholder in Ntsimbintle and will market some of the new mine’s output, according to the statement.
Jupiter Mines Ltd., an Australian manganese and iron-ore developer, holds the balance in Tshipi e Ntle. Manganese is used to toughen steel.
