Integrated report
Profile
Scope and boundary
Organisational overview and activities
- Business model
- Assurance
- History of the group
- Group at a glance
- Location of markets
- Location of operations
- Group structure of operating companies
- Governance structure
Risks and opportunities
- Operating context
Strategic objectives
- Strategy
- Key performance indicators
Operational review and commentary
Future performance objectives
Remuneration
Financial highlights
Organisational overview and activities
Business model
Assore is a mining holding company engaged principally in ventures involving base minerals and metals to take advantage of opportunities, either on its own or in joint ventures, in a profitable, responsible and sustainable manner. Assore, including its subsidiary companies and
The group seeks to align the exploitation of its mineral deposits and alloy production capacity with customer requirements, in accordance with its programme of capital expenditure. The sections “Group at a glance”, “Location of operations” and “Group structure of operating companies” provide more detail of the group’s holdings and its operations.
The group’s principal investment is a 50% interest in Assmang Limited (Assmang) which it controls jointly with African Rainbow Minerals Limited (ARM) through an operations committee. Assmang’s operations encompass the mining, distribution and sale of iron, manganese and chrome ores, and the distribution and sale of its produced manganese and chrome alloys. In terms of the
Besides the Assmang operations, the group also has interests in other chrome deposits and industrial minerals and maintains a portfolio of investments in other mining companies listed on the JSE.
The IR has been prepared on the basis of the group’s consolidated financial statements, prepared in accordance with IFRS and relevant facts, issues and risks that are pertinent to the group’s operations. Guidelines used in compiling the separate elements of the IR include:
REPORT ELEMENT |
GUIDELINES |
REFERENCE |
Mineral resources and reserves report |
South African Code for Reporting Mineral Resources and Mineral Reserves (SAMREC Code), and the Australian Institute of Mining and Metallurgy Joint Ore Reserves Committee Code (JORC Code) |
Here |
Corporate governance and risk management report |
King Code on Corporate Governance, issued in September 2009 (King III) |
Here |
Black economic empowerment status report |
Mineral and Petroleum Resources Development Act and the |
Here |
Sustainability report |
Various relevant guidelines, as well as those contained in the global reporting initiative (GRI) G3 indicators |
Here |
Annual financial statements |
IFRS, South African Companies Act and JSE Listings Requirements |
Here |