Name of the Project
Black Rock mine and Gloria modernisation projects.
Black Rock, in the Northern Cape, South Africa.
Assmang, which is jointly controlled by Assore and African Rainbow Minerals.
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, subject to rail availability and market conditions.
Potential Job Creation
Net Present Value/Internal Rate of Return
R2.97-billion has been approved for the project, most of it sustaining capital expenditure. Eighty-seven per cent of the approved capital for the project was spent on the Gloria project as at December 31, 2021.
The Black Rock project is estimated at R7.3-billion.
Planned Start/End Date
The Gloria project is forecast to be completed in June 2023.
ARM has reported that as at December 2022, the Gloria project was 96% complete, with 95% of the approved budget of R3-billion being spent.
The Black Rock project was completed on budget and handed over to operations in September 2022.
The planned ramp-up in tonnages from the modernisation of the Gloria and Black Rock mines is constantly being reviewed to align with State-owned logistics company Transnet’s capacity allocation and market fluctuation.
Key Contracts, Suppliers and Consultants
DRA Global (engineering, procurement and construction management).
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 email@example.com.