South African Miners Eye New Manganese Export Terminal

A consortium of South African manganese miners, led by African Rainbow Minerals, plans to build a new export port at Ngqura. Partnering with Transnet, this venture aims to boost export capacity by 16 million metric tons. South Africa holds 70% of the world's manganese resources.

A consortium of South African manganese miners is set to bid on developing a new export port in Ngqura, Eastern Cape, as announced by African Rainbow Minerals (ARM) on Friday.

This initiative, which involves ARM's unit Assmang and the Manganese Producers Consortium (MPC), aims to partner with state-owned Transnet to enhance manganese export capacity by 16 million metric tons. The collaboration plans to answer Transnet's invitation for quotes, eyeing a joint venture to design, build, and operate the Ngqura Manganese Ore Export Terminal.

Transnet, struggling with diminished capacity in recent years, will open its network to private firms. South Africa, the leading global manganese producer with about 70% of the world's reserves, predominantly exports to China. Despite a steep 76% decline in manganese ore earnings, ARM saw a 10% profit increase due to high platinum group metal prices, partly offsetting its losses.

(With inputs from agencies.)