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Update on Sublime Technologies Proprietary Limited ("Sublime")
MANTENGU LIMITED
(formerly Mantengu Mining Limited)
Incorporated in the Republic of South Africa
(Registration number 1987/004821/06)
Share code: MTU ISIN: ZAE000320347
("Mantengu" or "the Company")
UPDATE ON SUBLIME TECHNOLOGIES PROPRIETARY LIMITED ("Sublime")
The Board has notified shareholders previously, that it took the decision not to resume
production of silicon carbide at Sublime subsequent to shutting down to perform routine
maintenance during the winter of calendar 2025. The rationale for the decision at the time
was to avoid significantly higher Eskom tariffs.
Shareholders are advised that the tariff agreement with Eskom expired on 31 March 2025.
Sublime submitted an application for a new tariff agreement on 13 June 2024 but has yet
to receive approval from Eskom. Sublime consumes a significantly large amount of energy
to produce silicon carbide as it uses open arc furnaces. Similar to other smelting operations
in the country, it is not viable to continue operations at current Eskom tariffs and energy
costs.
Since the completion of routine maintenance last winter, the Company has continued to
employ all staff at Sublime whilst continuing to engage Eskom. The Company has now
commenced a consultation process with Sublime employees and trade union in terms of
Section 189 of the Labour Relations Act 66 of 1995.
The Board will update shareholders in due course when there are any further material
developments.
By Order of the Board
14 May 2026
Designated Advisor
AcaciaCap Advisors Proprietary Limited
Date: 14-05-2026 11:21:00
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