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 iron, manganese and chrome ores together with other industrial minerals and the production of manganese alloys. The group is also responsible for marketing all products produced by the group, 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 Johannesburg Stock Exchange (JSE) under “Assore” in the general mining sector.
26,07% of the company’s shares are controlled by two broad-based black economic empowerment community trusts: the Boleng Trust* (14,28%), and the Fricker Road Trust (11,79%). The Minerals and Petroleum Resources Development Act requires that 26% of mining companies’ shares are controlled by historically disadvantaged South Africans by 2014.