JSE-listed shipping and logistics group Grindrod, which announced the acquisition of the remaining 50% in Oreport on Tuesday, said that the company had partnered with Eramet to develop a manganese mine, in Nambia.

Grindrod said in a media statement that Erament had bought an option from Oreport and its partners to buy a majority stake in the Otjozondu project, which would be developed over the next 18 months.

Oreport, currently a 24,5 % shareholder in Otjozondu Mine, and Otjozondu Holdings would remain strong local partners in this project.

“This project expands the existing operations of Otjozondu Mining and has the potential to bring Namibia on the list of the few large international manganese producing countries and will contribute significantly to the Namibian economy,” said Otjozondu Mining chairperson Hans Wilhelm Rűnz.

The Otjozondu deposit is a manganese ore deposit in the centre of Namibia, about 150 km from Windhoek. Mining took place there intermittently since the 1930s and stopped in the late 1980s.

Oreport is a company specialising in the procurement, physical movement and distribution of industrial raw materials.

The Grindrod trading division traded in agricultural commodities through Atlas Trading & Shipping, in marine fuel and lubricants through Cockett Marine Oil and has traded in industrial raw products since it first acquired a 50% share in Oreport in June 2005.

Grindrod also acquired the remaining share in Cockett Marine Oil earlier this year. 

“All the businesses within this division are now 100%-owned subsidiaries of Grindrod – there is great growth potential within this division,” said Grindrod trading division CEO Brendan McIlmurray .