Name of the Project
Black Rock mine and Gloria modernisation projects.

Location
Black Rock, in the Northern Cape, South Africa.

Project Owner/s
Assmang, which is jointly controlled by Assore and African Rainbow Minerals.

Project Description
The projects will modernise and expand the mine by increasing volume and flexibility to produce the differentiated medium- to high-grade products, which the manganese market is increasingly demanding and for which it is paying a premium, while improving efficiencies.

The project will increase overall production to about five-million tons a year of manganese.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
Not stated.

Capital Expenditure
R2.7-billion has been approved for the project, most of it sustaining capital expenditure.

Planned Start/End Date
The project was approved in 2018, with project completion and final handover expected in late 2021.

Latest Developments
Ramp-up of Black Rock mine is being closely synchronised with Transnet’s rail availability and is informed by prevailing market conditions. Engagement with Transnet on rail and port allocation beyond the current contractual period is ongoing.

Key Contracts, Suppliers and Consultants
DRA Global (EPCM).

Contact Details for Project Information
Assore, tel +27 11 770 6800.
African Rainbow Minerals investor relations and corporate affairs head Jongisa Magagula, tel +27 11 779 1300, fax +27 11 779 1312 or email jongisa.magagula@arm.co.za.