Shareholding

Shareholding History

The company was incorporated in 1971 and commenced trading in 1974 as Delta Manganese, with Delta Plc. owning 88% and the Industrial Development Corporation of South Africa owning 12% of the company shares.

In 1985 the name changed to Manganese Metal Company (MMC), when Samancor Limited became the majority shareholder (51% share), after the merger of Delta Manganese and EMCOR, the other South African EMM producer, founded in 1960. Delta Plc. retained a minority share of 49% of MMC.

In December 1998 Samancor became a BHP Billiton (60% share) company. From 1998 to 2010 MMC operated as a BHP Billiton company. During this time, MMC was moulded to the disciplines and excellence of the Billiton Way.

In May 2010 Delta was bought by Valmont Industries Inc. and Valmont EMD Holdings became the new owner of 49% of MMC.

In June 2010 a consortium called Manganese Metals Holdings (Pty) Ltd bought the BHP Billiton 51% share of MMC. This followed after BHP Billiton’s decision to dispose of various non-core assets, in order to focus on their core business, being mining. This shareholding structure, being Manganese Metals Holdings (51%) and Valmont (49%), remained till the end of 2012 when Valmont decided to put their 49% share up for sale.

Manganese Metals Holdings took the decision to buy the Valmont shares in order to become the sole shareholder of MMC, from 1 March 2013. The long term sustainability of the MMC business case is endorsed by this sizeable investment, which happened in a period of lower economic activity.

Current Shareholding

MMC is 100% owned by Manganese Metals Holdings (Pty) Ltd, a South African private investment company.

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Shareholding