Empowerment

Assore strongly endorses the broad-based black economic imperatives contained in the Minerals and Petroleum Resources Development Act (the MPRD Act) and the Broad-based Socio-economic Empowerment Charter for the South African Mining Industry issued thereunder (the Mining Charter), and since their inception has embarked on a number of initiatives aimed at meeting these requirements at its mining operations.

Following the introduction of the MPRD Act Assore has, specifically at a holding company level, entered into empowerment-related transactions, which have resulted in HDSAs holding 26,07% of Assore’s ordinary shares, as follows:

Shareholder %
shareholding
Boleng Trust 14,28
Fricker Road Trust 11,79
Total 26,07

 

Broad-Based Black Economic Empowerment Verification Certificate (PDF – 83KB)