Prominent SA mining company in hot water

Johannesburg – South African mining and resources company Mantengu Limited has lost its bid to overturn a Johannesburg Stock Exchange (JSE) public censure over its handling of price-sensitive information linked to a proposed acquisition.

According to BusinessTech, the Financial Services Tribunal (FST) on 21 September 2026 rejected Mantengu’s application for reconsideration, leaving the JSE’s censure in force.

The dispute dates back to May 2023, when Mantengu made a binding offer to acquire 100% of the shares in Blue Ridge Platinum, a subsidiary of a blue-chip mining company.

The JSE found that Mantengu became aware around 14 June 2023 that the confidentiality of the price-sensitive information surrounding the deal had been breached, but failed to issue a cautionary announcement to shareholders.

According to the JSE’s findings, a cautionary announcement was required because the information could have materially affected Mantengu’s share price and investors’ trading decisions.

Public censure

Moneyweb, reporting on the JSE’s SENS announcement, said the exchange had imposed the public censure in March 2026 after finding that Mantengu had not acted immediately once it became aware of the breach. The company subsequently approached the FST to challenge the decision and sought to have its enforcement suspended.

That suspension application was dismissed in May, while the reconsideration application was heard in September. The tribunal has now affirmed the validity and enforceability of the censure.

The JSE said cautionary announcements are important for ensuring “fair and transparent trading” by giving investors equal access to price-sensitive information.

The latest development follows another regulatory setback for Mantengu. Daily Investor reported that the company was also subjected to a R100,000 fine and another public censure in May 2026 over announcements alleging that its share price was being manipulated. The fine was suspended for three years on condition that Mantengu does not commit further breaches of the relevant JSE rules.

Mantengu has also been restructuring its mining interests. In July, the company announced the planned disposal of its 70% stake in Blue Ridge Platinum to Afresources Mining for R35 million. It said the transaction would reduce group liabilities by R185 million and cut monthly operating expenditure by about R2 million.

The FST’s latest ruling means the JSE’s censure against Mantengu remains binding and enforceable.