Group timeline

1928

Gloucester Manganese Mines (Postmasburg) Limited established by Guido Sacco

1930

Formation of Ore & Metal Company Limited (Ore & Metal)

1931

Formation of African Mining and Trust Company Limited (AMT)

timeline1

1935

AMT partnered with Anglo Transvaal Consolidated Investment Company Limited (Anglovaal), now African Rainbow Minerals (ARM), to form The Associated Manganese Mines of South Africa Limited (Assmang)

1936

Acquisition of the Wonderstone Mine

1937

Various prospecting activities and mining manganese deposit on farm Gloucester and adjoining farms

1939

Export of manganese through Durban

1940

Obtaining of mining lease at Black Rock where initial manganese mining operation commenced

1950

The listing of Assore on the JSE as The Associated Ore & Metal Corporation Limited

1957

Alloy producer, Ferroalloys Limited, incorporated by Assmang

1959

First production of ferromanganese at the Cato Ridge Works by Assmang

1960

First mining of iron ore by Assmang at Beeshoek, and exported through Durban

1961

Agency relationship established with Sumitomo Corporation of Japan

1973

Commissioning of the Nchwaning Manganese Ore Mine

1979

Gloria Manganese Ore Mine commissioned

1981

Nchwaning II Mine came into production

1996

Cato Ridge Alloys (CRA), a joint venture to produce refined ferromanganese for export at Cato Ridge, between Assmang’s Ferroalloys Limited and Japanese partners

1997

Beeshoek South Mine expansion commissioned

1999

Mining of chrome deposit by Assmang at Dwarsrivier

timeline2

2000

Change of name to Assore Limited and 20-for-1 subdivision of ordinary shares

2001

Commissioning of Nchwaning III Manganese Ore Mine

2002

First mining of manganese ore from Nchwaning III

2004

Assmang’s Khumani Iron Ore Mine established, following issue of new-order mining rights, and increase of production to 10 million sales tonnes per annum

2005

First empowerment transaction, whereby 11,76% and 3,26% of Assore’s shares in issue at the time were sold to Shanduka Resources and the Boleng Trust respectively (refer “Black economic empowerment status report”)

2006

Acquisition of minorities in, and delisting of, Assmang and finalisation of 50/50 joint-venture agreement with African Rainbow Minerals Limited (ARM) in relation to Assmang’s operations

2009

Approval of the Khumani Expansion Project to increase design capacity of iron ore output to 14 million tonnes per annum, to be completed in 2012, on time and within budget

2010

5-for-1 subdivision of ordinary shares. Conclusion of second empowerment transaction, whereby a further effective 11,05% of Assore’s shares were acquired by the Boleng Trust

2012

Conclusion of third empowerment transaction, whereby 11,79% of Assore shares were bought back from Shanduka Resources and disposed of to its broadbased empowerment trusts being the Fricker Road Trust and the Assore Employee Trust

2014

First distributions made by empowerment trusts (R7,2 million) and to employees by employee trust (R13,2 million) and commencement of construction of offshore ferromanganese smelters in Sarawak province of Malaysia

2015

Purchase of the remaining 50% of Dwarsrivier from ARM, subject to regulatory approval for R450 million and exploration for iron ore deposits in Gabon through investment in IronRidge commences