KUALA LUMPUR (May 13): OM Holdings Ltd (KL:OMH) is selling its 26% stake in Ntsimbintle Mining to South Africa’s Exxaro Resources for 1.86 billion rand (RM439.2 million). Ntsimbintle owns 50.1% of Tshipi é Ntle, which runs the Tshipi Borwa Mine — one of the largest manganese mines in South Africa and among the top five globally. The other 49.9% is held by Australian exchange-listed Jupiter Mines.

Through its stake in Ntsimbintle, OM Holdings effectively owns 13% of Tshipi.

A conditional binding sale and purchase agreement was inked between OM Holdings’ wholly owned unit OMH (Mauritius) Corp and Exxaro for the deal, according to the group’s filing on Bursa Malaysia.

“The consideration from Exxaro is an attractive and compelling opportunity to unlock value for OM Holdings and recirculate capital to our core business operations,” said OM Holdings executive chairman and CEO Low Ngee Tong.

The sale depends on Ntsimbintle Holdings, which owns the other 74% of Ntsimbintle Mining, also selling its stake to Exxaro. The deals are expected to be completed in early 2026.

Shares in OM Holdings ended 3.5 sen or 4.05% higher at 90 sen, valuing the group at RM272.02 million. OM Holdings is a dual-listed company on ASX and Bursa Malaysia.