Khwelamet, a subsidiary of Khwela Capital, jointly owned by Menar Capital and Ntiso Investment Holdings, has signed a binding agreement to fully acquire Samancor’s Metalloys manganese alloy smelter complex based in South Africa’s Gauteng Province.
The deal marks a significant milestone in the company’s journey towards growing its portfolio. Khwela Capital’s shareholders, Menar Capital and Ntiso Investment Holdings, both bring experience in diverse sectors including energy, logistics, mining, and an existing manganese production pipeline.
The company intends to further develop the manganese alloy smelter complex, which is currently under care and maintenance after its operations ceased in March 2020. This strategic transaction, which will see the building of a vertically integrated manganese business, aligns with the company’s objective to revitalise industrialisation in key sectors and contribute to growing the economy. Completion of the transaction is subject to certain conditions, including competition approval and regulatory approvals.
