South Africa’s $13.2bn mining giant offloads subsidiary arm for $13.8m

Exxaro confirmed that the transaction, finalised on Friday, October 31, 2025, was financed through a mix of equity, commercial debt, and vendor funding. All operational contracts and commitments of FerroAlloys will remain intact to ensure stability and business continuity.

“This divestiture marks another strategic milestone in Exxaro’s journey. We are focusing on our strong coal base, growing energy solutions business, and acquisitive ambitions in energy transition metals.

“We are confident that EverSeed, alongside the management team and employees, will continue to build a resilient and competitive business that contributes meaningfully to South Africa’s industrial base and export potential,” said Exxaro CEO Ben Magara.

For EverSeed CEO Kerwin Rana, the acquisition aligns with the firm’s long-term goal of investing in essential, future-facing industries.

“We are particularly pleased that the structure aligns interests across management and employees,” said Rana.

The FerroAlloys sale follows Exxaro’s R11 billion ($608 million) acquisition of manganese assets in the Kalahari Manganese Field, a move aimed at diversifying its portfolio into minerals vital for global decarbonisation. Manganese plays a key role in both steelmaking and emerging battery technologies, making it central to South Africa’s industrial and energy transition.

Source: Africabusinessinsider