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Jupiter Mines Limited (ASX: JMS) has acknowledged Exxaro Resources Limited's (JSE: EXX) announcement regarding its entry into a binding agreement to acquire a 50.1% controlling interest in the Tshipi Manganese Mine and a 19.99% shareholding in Jupiter. Exxaro, a major South African diversified miner, will acquire Ntsimbintle Holdings' (NH) 37.1% and OM Holdings' (OMH) 13.0% stake in Tshipi, along with their marketing rights covering 50.1% of ore sales.
Exxaro will also purchase 392 million Jupiter shares from NH at ZAR 3.69 per share (approximately AU$0.317), making Exxaro Jupiter's largest shareholder. The transaction remains subject to regulatory approvals in South Africa. Post-transaction, Jupiter retains its 49.9% stake and joint control in Tshipi, with its marketing rights unchanged. Jupiter Chair Ian Murray welcomed Exxaro's investment, citing shared ambitions to expand across the Kalahari Manganese Field.
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