SA shares hit by drop in miners, MTN up

South African stocks dropped nearly 1% on Friday as miners such as Assore were hammered after worse-than-expected US jobs data sparked concern about the health of the world's largest economy. MTN Group, rose 1.6% to R136.68 after Africa's largest...

Assore reports 48.5% increase in headline earnings

JSE-listed Assore on Wednesday reported a 48.5% headline earnings increase to R2.1-billion for the six months ended December, up from R1.39-billion a year earlier. This was mostly attributed to 50%-owned Assmang’s 57.2% increase in headline...

Assore sees higher half-year earnings

Shares in JSE-listed Assore rose 4% on Tuesday, after the company said it was set to report a significant increase in its interim earnings. The manganese, iron-ore and chrome company expected to earn between R1.99-billion and R2.21-billion for...

Assore expects more challenging market after strong 2011

JSE-listed manganese, iron-ore and chrome company Assore more than doubled earnings to R3.2-billion during its 2011 financial year when compared with the R1.48-billion achieved in 2010. The result was attributed mainly to stronger iron-ore...

Assore says earnings could more than double to R3.35bn

JSE-listed manganese, iron-ore and chrome company Assore expects its earnings to rise to between R3.05-billion and R3.35-billion in the year ended June 30. This compares with earnings of R1.48-billion recorded in the previous financial year.

Shanduka sells Assore stake for R2.7bn, exit to broaden BEE base

JSE-listed iron-ore, manganese, chrome and ferroalloy producer Assore on Tuesday announced that it would buy its black partner Shanduka’s 11.8% stake in the company for R2.7-billion and pass the benefit on to its broad-based black-economic...

Ex-regulator admits to blocking white applications to allow in black bids

South Africa’s former Department of Mineral Resources (DMR) deputy director-general Jacinto Rocha has admitted to staving off white mineral-rights applications to allow blacks to gain entry. Rocha, who was in charge of mine regulation for 13...

Ncube appointed to Assore board

Donald Ncube has joined the board of iron, manganese and chrome ore miner Assore as an independent nonexecutive with effect from Tuesday. Ncube is currently the MD of Vula Mining Supplies, executive chair of Badimo Gas and an independent...

ARM’s six-month profit soars 244% to R1,5bn

The headline earnings of JSE-listed diversified miner African Rainbow Minerals (ARM) increased 244% to R1 562-million in the six months to December 31, driven mainly by better dollar commodity prices. ARM, headed by executive chairperson Patrice...

Assore profit trebles, iron-ore growth project spot on

JSE-listed iron, manganese, chrome and ferroalloy producer Assore trebled its interim profit to R1,3-billion in the six months to December 31. Assore, chaired by Des Sacco, owns 50% of Assmang and the JSE-listed African Rainbow Minerals, chaired...

Assore says earnings halved in FY2010

South African mine holdings company Assore on Thursday reported a 54% drop in its 2010 headline earnings to R1,49-billion, from R3,27-billion last year. The group attributed that the weaker performance to declining earnings of Assmang, in which...

Softer prices, rand hit Assore’s H1 earnings

South African mine holdings company Assore reported an 88,7% fall in earnings to R337-million for the six months to December 31, 2009, which it attributed to difficult market conditions. Assore holds a 50% interest in ferrous material producer...