Empowerment

Assore Limited (Assore) is a mining holding company engaged principally in ventures involving base minerals and metals. The group's principal investment is a 50% interest in Assmang Limited (Assmang) which it controls jointly with African Rainbow Minerals Limited (ARM). The group, through its various joint venture entities and subsidiary companies, is involved in the mining of manganese, iron and chrome ores together with other industrial minerals and the manufacture of manganese and chrome alloys. Assore is also responsible for marketing all products produced, the bulk of which is exported and the remainder either used in the group's beneficiation processes or sold locally. The company was incorporated in 1950 and its shares are listed on the JSE Limited under "Assore" in the general mining sector.

The Bokamoso Trust 14,28%
The Fricker Road and Assore Employee Trusts, combined 11,79% (note 1 below)
26,07%

Note 1: The Fricker Road Trust is a black economic empowered entity that controls the majority of the voting rights in a special purpose vehicle that owns 11,79% of Assore’s issued ordinary shares. The Assore Employee Trust controls the remainder of the voting rights.

 

Assore is in a process of identifying and appointing beneficiaries of The Bokamoso Trust by negotiating with existing community groupings which meet the criteria set down in The Bokamoso Trust deed.