- Exxaro Resources sold its FerroAlloys subsidiary for R250 million ($13.8 million) to a consortium of employees, management, and EverSeed Energy
- EverSeed Energy holds 60%, management 30%, and employees 10% through an ESOP
- The transaction, completed on October 31, 2025, was financed via equity, debt, and vendor support
- Exxaro will focus on coal, renewable energy, and energy transition metals including manganese
- CEO Ben Magara said the deal strengthens employee alignment and supports the firm’s sustainable growth strategy
