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Manganese takes pole position in ARM’s earnings surge

By: Martin Creamer     10th September 2018 Manganese formed the backbone of the earnings performance of diversified mining company African Rainbow Minerals (ARM) in the 12 months to June 30, delivering 64% of the headline earnings, at R1.9-billion, and helping the company move into a strong net cash position by recording the best margin.... 

ARM mulling ‘very exciting’ growth opportunities – Motsepe

By: Martin Creamer     7th September 2018 Diversified mining company African Rainbow Minerals (ARM) is right now looking at some very exciting growth opportunities, its executive chairperson Patrice Motsepe said on Friday. After announcing the delivery of 51% higher headline earnings of R4 814-million in the 12 months to June 30... 

African Rainbow Minerals earnings rise, cash mounts, dividend boosted

By: Martin Creamer     7th September 2018 The headline earnings of diversified mining company African Rainbow Minerals (ARM) rose sharply in the 12 months to June 30, when the company generated strong cash flow that has underpinned a boosted cumulative dividend payout of R1.7-billion. Headline earnings increased by 51% to R4 814-million,... 

R2.7bn approved for Gloria project – Assore

By: Martin Creamer     7th September 2018 Capital expenditure (capex) of R2.7-billion has been approved for the modernisation and optimisation of Assmang’s Gloria Manganese Mine at Black Rock in the Northern Cape, Assore CEO Charles Walters told Mining Weekly Online on Thursday. Assore owns 50% of Assmang, which it controls jointly with... 

Manganese star performer, more stability in iron-ore price – Assore

By: Martin Creamer     6th September 2018 Manganese was the star performer for diversified mining company Assore in the 12 months to June 30, when the Johannesburg Stock Exchange-listed record-performer experienced greater stability in iron-ore pricing but also chrome price volatility caused by global tariff uncertainty. In reporting... 

Assore posts record sales, output, earnings, dividend

By: Martin Creamer     6th September 2018 Diversified mining company Assore on Thursday posted record-upon-record in what has been an outstanding 12 months for the JSE-listed chrome ore, manganese ore and iron-ore producer that also bettered its lost time injury frequency rate in the period but sadly suffered a fatality. The 12 months to... 

Energy-intensive firms say carbon tax wrong tool for reducing power emissions

By: Terence Creamer     14th March 2018 The Industry Task Team on Climate Change (ITTCC), which includes many of South Africa’s largest mining and industrial companies, says the proposed carbon tax will have no material impact on reducing carbon emissions from the electricity sector, which is responsible for around half of the... 

Unique repair solutions have ‘unlimited’ applications

By: Robyn Wilkinson     17th November 2017 Applications for industrial lining solutions provider Groupline Projects’ (GLP’s) Armacoat and Armasteel composite repair systems seem to be “unlimited”, as the company embarks on a quest to tailor the repair solutions – tried and tested in the mining sector – for other industries, says GLP GM... 

NUM, Solidarity sign three-year wage agreement with Assmang

By: Natasha Odendaal     26th September 2017 Trade unions the National Union of Mineworkers (NUM) and Solidarity have secured a three-year wage agreement with iron-ore and manganese miner Assmang at its operations in the Northern Cape. Assmang, a joint venture between Assore and African Rainbow Minerals, operates the Khumani iron-ore mine,... 

Assore posts record headline earnings of R5.2bn as commodity prices rebound

By: Ilan Solomons     30th August 2017 Mining investment holding company Assore achieved a 199% increase in headline earnings to R5.2-billion for the financial year to June 30, compared with R1.7-billion in the previous year. Attributable earnings amounted to R5-billion, which was an improvement of 226% from 2016, which was also a... 

Advanced wear technology stands to set new benchmark

By: Robyn Wilkinson     18th August 2017 Following the successful introduction of its locally manufactured zirconia-enhanced alumina ceramic products for wear protection applications in South Africa, industrial lining and materials handling solutions provider Groupline Projects is exploring options to expand the availability of the... 

Invicta’s Walters to join Assore as CEO

6th December 2016 JSE-listed mining holding company Assore has appointed Charles Walters CEO, effective July 1. He will join the company as CEO designate on April 1. 

Assore earnings down on global iron-ore, manganese oversupply

By: Martin Creamer     7th September 2016 Base mineral and metals mining company Assore, which released financial results for the 12 months to June 30 on Wednesday, reported 11.7% lower headline earnings to R1.7-billion for the financial year. The Johannesburg Stock Exchange-listed company, chaired by Des Sacco, reported a poor ongoing... 

Prices, decline in share value to dent Assore’s H1 earnings

By: Natalie Greve     20th January 2016 On the back of lower export selling prices across its product portfolio, a declining share portfolio value and a subsequent impairment, mining holding company Assore expects headline earnings to decline by up to 44.6% to between R548-million and R672-million for the six months ended December 31.... 

Assore earnings nose-dive amid weak iron, steel environment

By: Megan van Wyngaardt     26th August 2015 “Substantially” lower iron-ore and manganese prices and challenging operating conditions have contributed to JSE-listed Assore posting lower headline earnings and profit for the 2015 financial year. Headline earnings were down 53.3% to R2-billion, compared with R4.2-billion in the 2014 financial... 

Assore warns of lower FY earnings amid lower iron, manganese prices

By: Creamer Media Reporter      30th June 2015 JSE-listed mining holding company Assore expects its attributable earnings for the year to June 30 to decline to between R1.23-billion and R1.5-billion, from R4.01-billion in the prior financial year. Headline earnings were expected to fall to between R1.7-billion and R2.08-billion, from... 

Assore, ARM enter agreements for R450m Dwarsrivier sale

By: Natasha Odendaal     25th June 2015 Definitive agreements have been inked for Assore’s R450-million buyout of African Rainbow Minerals’ (ARM’s) 50% indirect interest in the Dwarsrivier chrome mine, in Mpumalanga. The deal would see Assore gain full ownership of the mine, which was owned and operated by Assore and ARM’s joint... 

Commission recommends approval of Assore, DCM deal

By: Natalie Greve     15th April 2015 The Competition Commission has recommended to the Competition Tribunal that it approve, without conditions, a transaction that would see mining holding group Assore acquiring African Rainbow Minerals’ 50% stake in the Dwarsrivier chrome mine (DCM), in Mpumalanga. Post-merger, Assore would have... 

ARM’s Motsepe urges serious govt intervention on Eskom let down 

By: Martin Creamer     16th March 2015 Patrice Motsepe, chairperson of the black-controlled diversified mining company African Rainbow Minerals, on Monday urged the government to intervene seriously to establish Eskom as a competitive, cost-effective, reliable provider of electricity. Speaking at ARM’s presentation of interim results,... 

Across-board ARM review as earnings plunge 56%

By: Martin Creamer     16th March 2015 Black-controlled diversified mining company African Rainbow Minerals (ARM), which saw its half-year headline earnings plummet by 56%, is responding with an across-the-board review of its performance and expenditure. The JSE-listed company, headed by executive chairperson Patrice Motsepe, on... 

Assore’s H1 headline earnings down nearly 60%

By: Ilan Solomons     27th February 2015 JSE-listed mining holding company Assore’s headline earnings for the six months ended December 31, 2014, declined by 59.2% to R990-million, mainly owing to the lower headline earnings recorded by its 50%-owned iron-ore and ferroalloy subsidiary Assmang. The subsidiary’s headline earnings fell by... 

Assore’s H1 headline earnings down nearly 60%

By: Ilan Solomons     11th February 2015 JSE-listed mining holding company Assore’s headline earnings for the six months ended December 31, had declined by 59.2% to R990-million, mainly owing to the lower headline earnings recorded by its 50%-owned iron-ore and ferroalloy subsidiary Assmang. The subsidiary’s headline earnings fell by... 

Assore to subscribe for up to 30.3% in IronRidge

By: Leandi Kolver     2nd December 2014 JSE-listed mining holding company Assore would subscribe for 70.83-million shares in Australia-based explorer IronRidge Resources for £6.98-million. Depending on the amount of equity raised by IronRidge upon listing on the Aim in January, this would result in Assore holding between 26.7% and... 

Iron-ore export channel expansion, South Africa

19th September 2014 The prefeasibility study to expand the channel’s capacity is in progress. 

Assore announces record full-year earnings

By: Leandi Kolver     3rd September 2014 JSE-listed mining holding company Assore posted record headline earnings of R4.2-billion for the year ended June 30, up 19.7% on that of the prior year. It attributed the higher headline earnings to the fact that its 50%-owned subsidiary Assmang had recorded a 16.6% year-on-year increase in... 

Assmang expects 2014 earnings jump despite price declines

By: Natalie Greve     8th August 2014 Despite volatile and declining iron-ore prices during the second half of the 2014 financial year, mining holding group Assore expects headline earnings to increase from R3.5-billion in 2013 to between R4-billion and R4.5-billion for the year ended June 30. Average prices for the group’s products... 

SA stocks up on solid Q1 mining results

By: Reuters     25th April 2014 South African stocks booked their highest close on record on Thursday as shares of Anglo American and its unit Kumba Iron-Ore rose on solid first-quarter production. "We are strong but we won't sustain these sort of levels. The resources are definitely shining and that's purely from the numbers... 

Iron-ore export channel expansion, South Africa

By: Sheila Barradas     21st March 2014 Phase 1 expansion to 60-million tons a year has been completed and the capacity is available.  

Assore doubles H1 earnings, declares dividend

By: Natalie Greve     12th February 2014 JSE-listed mining holding company Assore has increased its headline earnings for the six months to December 31 by a dramatic 119.4% to R2.4-billion, largely on the back of a 104.4% earnings jump by its 50%-owned subsidiary Assmang, which posted headline earnings of R4.3-billion for the period.... 

Mining majors facing rising impairment costs, waning market caps – PwC

By: Natalie Greve     13th November 2013 Increasing costs and continued industrial action in the 2013 fiscal period has, in combination with lower production and international demand weakness, driven shrinking margins and R25-billion in impairments for majors in the South African mining sector. This was revealed on Wednesday when... 

Assore earnings fall to R3.5bn

By: Natasha Odendaal     28th August 2013 JSE-listed Assore on Wednesday reported a 4.7% decline in headline earnings for the year to June 2013, mostly owing to the 7.1% decline in headline earnings of 50%-owned Assmang. Assore’s headline earnings reached R3.5-billion for the year under review, down from the R3.7-billion recorded in... 

Iron-ore export channel expansion, South Africa

By: Creamer Media Reporter      2nd August 2013 All baseline scope required to increase port capacity to 60-million tons has been completed. 

Assmang completes DFS for Malaysia manganese smelting facility

By: Idéle Esterhuizen     19th June 2013 Diversified miner African Rainbow Minerals (ARM) on Wednesday reported that mining group Assmang, which it jointly controlled with Assore, had completed a definitive feasibility study to establish the financial viability of a manganese alloy smelting facility in Malaysia. Assmang, in... 

Assore H1 headline earnings slump 46.5%

By: Natalie Greve     13th February 2013 Mining holding company Assore on Wednesday reported that its headline earnings for the six months to December 31, 2012, decreased by 46.5% to R1.1-billion from R2.06-billion in the six months ended December 2011. This was chiefly the result of decreased earnings from its 50%-owned manganese ore... 

Assore reports record year for earnings, iron-ore sales

By: Megan van Wyngaardt     3rd September 2012 JSE-listed mining group Assore on Monday reported a 15% increase in headline earnings for the year ended June, owing to higher sales volumes of iron-ore. The iron-, manganese- and chrome-ore company, which owns 50% of Assmang, said that its earnings had increased to R3.7-billion, for the 12... 

Sishen-Saldanha iron-ore export channel expansion, South Africa.

By: Sheila Barradas     25th May 2012 A throughput rise to 83-million tons a year is being proposed for the Sishen-Saldanha iron-ore export channel. 

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