The transaction was finalised on 03 June 2025 following the fulfilment of certain conditions, including approvals from the Competition Commission. Khwelamet, a subsidiary of Khwela Capital, jointly owned by Menar Capital and Ntiso Investment Holdings, hopes to bolster South Africa’s ferromanganese output and support the country’s reindustrialisation efforts by reviving the complex.
The company plans to refurbish the complex and, thereafter, gradually restart production. This process will occur in a series of phases that will be rolled out over time. Before being placed under care and maintenance in March 2020, Metalloys produced a range of ferromanganese alloys critical to the global steelmaking industry. This is a strategic asset for the company and the South African economy.
Despite being the world’s biggest supplier of manganese ore, South Africa’s capacity to beneficiate has drastically decreased over the past two decades, mainly due to escalating electricity costs and electricity supply disruptions. The return of Metalloys under the Khwelamet brand creates an opportunity to replenish lost production capacity while taking advantage of locally sourced manganese ore.
The reindustrialisation process has the potential to create employment and business opportunities. In addition, Khwelamet hopes to leverage its existing manganese pipeline, along with its experience in relevant sectors such as logistics and energy, to stabilise operations. The immediate aim is to maintain a safe working environment and ensure the necessary rehabilitation work of the site continues.
