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Furnaces outperform industry expectations

By: Paige Müller     1st June 2018 Two custom built 81 MVA submerged arc alternating current (AC) furnaces – designed and supplied by South African process and engineering firm Metix to Malaysia-based joint venture smelting facility Sakura Ferroalloys – have outperformed industry expectations since the smelting facility’s... 

Mining, industrial contracts for ELB in SA and abroad

By: Nadine James     1st June 2018 ELB Engineering Services (ELB) announced last week that it had been awarded the drying system for the M.V. Grand Banks life extension project for marine mining company De Beers Marine. Additionally, the company noted that it had completed train loading station (TLS) and stacker projects for the... 

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... 

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

By: Ilan Solomons     8th September 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... 

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... 

Beeshoek mine, South Africa

By: Thabi Madiba     28th April 2017 An iron-ore mine located in Postmasburg, in South Africa’s Northern Cape. 

Khumani mine, South Africa

By: Thabi Madiba     21st April 2017 An iron-ore mine located 30 km south of Kathu, and about 65 km north of Assmang’s Beeshoek mine, in the Northern Cape, South Africa. 

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     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... 

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... 

Contractor moving ahead with R330m Nchwaning mine projects

By: Chantelle Kotze     20th June 2014 JSE-listed construction company Stefanutti Stocks started work last month on two projects awarded to it earlier in the year by ferrous-metals miner Assmang. The contracts have a combined value of about R330-million and are being carried out at the Nchwaning mine, near Hotazel in the Black Rock... 

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... 

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.... 

Rising costs, strikes, lower production and weak demand continue to buffet local miners

6th December 2013 South Africa’s mining industry continues to face tough times, as it is plagued by increasing costs and continued industrial action, which, together with lower production and international demand weakness, have resulted in shrinking margins and wide-ranging impairment provisions for the industry. 

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... 

New materials handling JV to target projects in sub-Saharan Africa

By: Chantelle Kotze     20th September 2013 Project management company DRA and bulk-materials handling solutions provider ELB Engineering, officially launched its large-scale materials handling project-focused Ardbel joint venture (JV) last month. 

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... 

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... 

Firm delivers SA’s first wet high-intensity magnetic separation plant for iron-ore

By: Samantha Herbst     14th June 2013 Project management company DRA Mineral Projects has delivered South Africa’s first wet, high-intensity magnetic separation (Whims) beneficiation plant for iron-ore. 

Mine granted water use licence for Newcastle project

10th May 2013 Exploration and development company Ikwezi Mining announced that it had been granted an integrated water use licence (Iwul) for its Ntendeka colliery, outside Newcastle in KwaZulu-Natal. The granting of the Iwul puts the regulatory framework in place to enable the company to complete construction... 

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... 

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