Mantengu's Blue Ridge Platinum signs life of mine agreement with Monteagle International

Mantengu, formerly Mantengu Mining, said Tuesday that its 70% subsidiary, Blue Ridge Platinum, had entered into a life of mine agreement with Monteagle International.

Mantengu’s share price nudged up 4.96% to 66 cents on the JSE Tuesday afternoon, although the share price has fallen from 79 cents a year ago.

The agreement, entitled "Chrome Concentrate Supply Agreement," was entered into on November 5, 2025, and sees Blue Ridge, which operates near Groblersdal, Limpopo, agreeing to deliver to Monteagle, who in turn has agreed to purchase a minimum of 300 000 dry metric tons at a rate of 10 000 dry metric tons per month.

The product will be a 40% - 42% chrome concentrate and will be sold on a CIF (cost, insurance and freight) basis, using the published market price by FerroAlloyNet.com. The approximate CIF price at the time of the announcement is $280 per ton.

“Blue Ridge expects that deliveries will commence during the first half of calendar 2026, after an approximate 4-month capital expenditure build of a new chrome plant,” a statement said Tuesday.

Monteagle is a multinational investment company with a diversified range of investments that holds substantial listed equity investments, provides procurement, logistics and marketing in hard and soft commodities, as well as trade finance services.

In September, Mantengu entered into a binding term sheet agreement to acquire 100% of the shares of New Salt Rock City, which owned 60% of Kilken Platinum, which in turn owns 70% of the Kilken Imbani joint venture. The joint venture is to treat tailings near Anglo American Platinum’s Amandelbult mine.

Mantengu is also currently involved in legal action due to a public dispute with the Johannesburg Stock Exchange about allegations by Mantengu of share price manipulation by the JSE and some of its directors. and allegations of misleading the market regarding the acquisition of Langpan Mining Company.

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