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Article: South Africa : Miner in $294m South Africa deal.
- Article from:
- TendersInfo
- Article date:
- September 30, 2009
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NORTHERN Territory manganese producer OM Holdings has unveiled a $294 million deal to buy a 60 per cent stake in a South African manganese project.
As flagged in BusinessDay, Pallinghurst, the investment vehicle of former BHP Billiton chief Brian Gilbertson, will be one of five co-investors to share in 139.9 million OM Holdings shares issued pro rata in return for their 49.9 per cent stake in the world-class Tshipi Kalahari manganese project in South Africa.
In a second transaction, OM Holdings will take a 20 per cent holding in Ntsimbintle Mining, the South African company that owns the remaining 50.1 per cent of Tshipi, for $49.2 million.
Mr ...