THE ousting in mid-October of Brian Gilbertson from Australia’s Jupiter Mines will have important consequences for South Africa’s manganese industry as it hands management control to the ambitious Ntsimbintle Holdings, the company largest shareholder.
Ntsimbintle Holdings is 74% controlled by Safika Resources, a branch of Saki Macozoma’s industrial empire. Macozoma has tended to operate away from the limelight, but in 2019 he nearly listed Ntsimbintle Mining, only to pull the proposal at the last minute.
Market reasons, partly related to China 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.
Ntsimbintle Mining owns 51.1% of Tship Borwa, a highly profitable mine in South Africa’s Northern Cape province. The other 49.9% of Tshipi is owned by Jupiter Mines, which makes the ousting Gilbertson all the more interesting.
One line of speculation is that with Gilbertson and Jupiter’s CEO and Gilbertson long-time partner Priyank Thapliyal out of the company, Ntsimbintle has the listed vehicle it desires, and more to boot.
Jupiter Mines is developing a portfolio of mines in Australia’s Yilgarn Valley. Ntsimbintle also has OM Holdings, a Singapore-based business with a smelter complex Sarawak in Malaysia, as a shareholder. Back in South...
Read Full Story: https://www.miningmx.com/news/ferrous-metals/48046-macozomas-ntsimbintle-has-vehicle-for-manganese-consolidation-following-gilbertson-ouster/
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