The group’s principal investment is a 50% interest in Assmang Proprietary 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 Assore and Assmang groups, 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 Securities 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 required that by 1 May 2014, 26% of mining companies’ shares are controlled by historically disadvantaged South Africans.
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