Group profile |
| 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 production of manganese and chrome alloys.The group 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. 15,02% of the company’s shares were held by black economic empowerment entities: Shanduka Resources (Proprietary) Limited (11,76%) and the Bokamoso Trust (3,26%), a broad-based black economic empowerment community trust (as calculated before the cancellation of shares on 15 September2008). The company also owns and controls an additional 9,88% of its ordinary share capital which is earmarked to increase empowerment shareholding to 26% by the year 2014 in accordance with the Minerals and Petroleum Resources Development Act. GLOBAL FOOTPRINT Strong relationships have been established with customers in Europe, North America, South America, India, the Middle- and Far East, and products with a market value of approximately R14,2 billion (2008: R14,6 billion) were marketed and distributed in these regions during the year. |
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